Advent Software 2008 Executive Short-Term Incentive Plan Summary
Advent Software has established a 2008 Executive Short-Term Incentive Plan for its President, CEO, and executive management team. The plan sets individual cash bonus targets ranging from $90,000 to $275,000, based on annual contract value, revenue, income from operations, and individual performance. The plan covers the 2008 fiscal year, with any earned bonuses paid in the first quarter of 2009. The company may choose to renew the plan for future years.
Exhibit 10.1
Summary of Plan Terms for 2008 Executive Short-Term Incentive Plan
The Advent Software 2008 Executive Short-Term Incentive Plan (the “Plan”) is designed to motivate and reward the Executive Team for short-term achievement of annual contract value, revenue and income from operations milestones during the 2008 fiscal year. A summary of the terms follows:
· The Plan is applicable to the President and CEO and executive-level members of Advent’s Executive Management Team (the “Executives”)
· The individual plans establish various target amounts, performance measures and goals of the cash bonuses awarded under the Plan for each Executive.
· Current target amounts range from a total per individual of $90,000 to $275,000.
· Plan targets are based on annual contract value, recognized revenue, income from operations (excluding stock-based compensation, amortization and restructuring expenses) and individual executive performance relative to goals.
· The Plan is an annual plan and is effective for fiscal year 2008. Any bonuses earned will be paid in the first quarter of 2009.
· The Plan may be renewed at the election of the Company for future periods.
