Summaryof Plan Terms for 2009 Executive Short-Term Incentive Plan

EX-10.1 2 a09-3896_1ex10d1.htm EX-10.1

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 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 $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.