Advent Software 2006 Executive Short-Term Incentive Plan Summary
Advent Software's 2006 Executive Short-Term Incentive Plan outlines cash bonus opportunities for the President, CEO, and executive-level direct reports based on achieving specific bookings, revenue, and operating profit goals during the 2006 fiscal year. Bonus targets for each executive range from $54,367 to $250,100, with payouts determined by company and individual performance. The plan is annual, covering the 2006 fiscal year, with bonuses paid in early 2007. The company may choose to renew the plan for future years.
Exhibit 10.1
Summary of Plan Terms for 2006 Executive Short-Term Incentive Plan
The Advent Software 2006 Executive Short-Term Incentive Plan (“the Plan”) is designed to motivate and reward the Executive Team for short-term achievement of key bookings, revenue and operating profit milestones during the 2006 fiscal year. A summary of the terms follows:
• The Plan is applicable to the President and CEO and executive-level direct reports of the CEO (the “Executives”)
• The individual plans establish various target amounts, performance measures and goals of the cash bonuses awarded under the Plan for each Executive.
• Target amounts range from a total per individual of $54,367 to $250,100.
• Plan targets are based on bookings, recognized revenue, operating profit and individual executive performance relative to goals.
• The Plan is an annual plan and is effective for the fiscal year end of 2006 and any bonuses earned will be paid in the first quarter of 2007.
• The Plan may be renewed at the election of the Company for future periods.
