Summaryof Plan Terms for 2009 Executive Short-Term Incentive Plan
Exhibit 10.1
Summary of Plan Terms for 2009 Executive Short-Term Incentive Plan
The Advent Software 2009 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 2009 fiscal year. A summary of the terms follows:
· The Plan is applicable to the Chief Executive and Financial Officer and executive-level members of Advents 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 $97,000 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 2009. Any bonuses earned will be paid in the first quarter of 2010.
· The Plan may be renewed at the election of the Company for future periods.