Harris Stratex Networks, Inc. 2008 Annual Incentive Plan Provision Details

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This agreement outlines the 2008 Annual Incentive Plan for Harris Stratex Networks, Inc. It sets performance targets based on revenue and non-GAAP operating income, weighted at 60% and 40% respectively. Bonus payouts depend on achieving specific financial thresholds, with the CEO having discretion to adjust awards by up to 20% based on individual performance. Awards are paid in cash, and the total payout at target performance is $4.4 million. The plan also requires a minimum cash flow to qualify for certain payouts.

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EX-10.23 4 f32003exv10w23.htm EXHIBIT 10.23 exv10w23  

Exhibit 10.23
***Confidential Treatment Requested
Harris Stratex Networks, Inc. — 2008 Annual Incentive Plan
     
Provision
  Details
 
    
Performance Targets
 
•    Performance measures include revenue and operating income (non-GAAP) with measures weighted 60% and 40%, respectively. Threshold targets and payout slopes are shown in the table below.
 
    
Payout Range
 
•    Threshold targets and payout slopes are shown in the table below:
                 
            Bonus   Plan
        Performance   (as % of Target   Target
        (as % of Target)   Bonus)   ($Millions)
Revenue
(60%)
  Threshold
Target
Maximum 		 
  90%
100%
120%
  
  50%
100%
200%
  
[***]
[***]
[***]
 
                
Operating Income
(non-GAAP)
(40%)
  Threshold
Target
Maximum 		 
  80%
100%
125%
  
  50%
100%
200%
  
[***]
[***]
[***]
     
 
       •    CEO to have +/- 20% discretion based on individual performance against objectives
 
    
 
       •    Operating Income (non-GAAP) payout subject to achieving minimum cash flow of $[***] Million
 
    
Award
       •    Award to be made in cash
 
    
Payout
       •    At 100%, total payout under the plan would be $4.4 Million