2010 Corporate Bonus Plan for CEO, Direct Reports, and Key Employees

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This agreement outlines the 2010 Corporate Bonus Plan for the company's CEO, direct reports, and key employees. To qualify for any bonus, the company must achieve at least $41,750,000 in total revenue and report positive EBITDA for the third and fourth quarters of 2010. Bonus percentages vary by role, with additional payouts if revenue exceeds the target. The plan specifies how bonuses are calculated based on salary and revenue performance.

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EX-10.13 15 b86908exv10w13.htm EX-10.13 exv10w13
Exhibit 10.13
Corporate Bonus Plan — 2010
Revised
Threshold
For any payout, the Company must meet or exceed both of the following targets:
Total revenue of $41,750,000
  •   includes both commercial & government
and,
Achieve EBITDA positive results for Q3 and Q4 of 2010
The Incentive Plan:
  •   Direct Reports of the CEO
  •   20% of salary at threshold
 
  •   Additional 3% of salary for every 1% that revenue exceeds plan
Example: Company achieves $43,158,500 in total revenue, or 3.37365% above plan. The participant with a base salary of $200,000 would earn 20.00% of salary or $40,000.00 for the Company having achieved Threshold and an incremental 10.12096% of salary or $20,241.92 for a total bonus payout of $60,241.92.

 

 

Corporate Bonus Plan — 2010
Revised
Threshold
    For any payout, the Company must meet or exceed both of the following targets:
    Total revenue of $41,750,000
  •   includes both commercial & government
and,
Achieve EBITDA positive results for Q3 and Q4 of 2010
The Incentive Plan:
  •   Key Employees
  •   15% of salary at threshold
 
  •   Additional 2% of salary for every 1% that revenue exceeds plan
Example: Company achieves $43,158,500 in total revenue, or 3.37% above plan. The participant with a base salary of $100,000 would earn 15.00% of salary or $15,000 for the Company having achieved Threshold and an incremental 6.74731% of salary or $6,747.31 for a total bonus payout of $21,747.31.

 

 

Corporate Bonus Plan — 2010
Revised
Threshold
For any payout, the Company must meet or exceed both of the following targets:
Total revenue of $41,750,000
  •   includes both commercial & government
and,
Achieve EBITDA positive results for Q3 and Q4 of 2010
The Incentive Plan:
  •   CEO
  •   30% of salary at threshold
 
  •   Additional 4% of salary for every 1% that revenue exceeds plan
Example: Company achieves $43,158,500 in total revenue, or 3.37365% above plan. The participant with a base salary of $300,000 would earn 30.00% of salary or $90,000.00 for the Company having achieved Threshold and an incremental 13.4946% of salary or $40,483.80 for a total bonus payout of $130,433.80.