Executive Officer Bonus Plan for FY 2008 (Rob Eberle and Pete Fortune)
This agreement outlines the bonus plan for executive officers Rob Eberle and Pete Fortune for fiscal year 2008. Bonuses are based on achieving specific revenue and operating income targets, with each weighted at 50%. Executives can earn up to 100% of their base salary in quarterly bonuses, provided minimum performance thresholds are met. Additionally, 33% of the bonus is tied to key management objectives set at the start of the year. The Board retains discretion to adjust bonus payments based on company performance or other factors.
Exhibit 10.47
Form of Executive Officer Bonus Plan – FY 2008
| Assumptions: | ||
| Focus | Operating Income weighted 50%, Revenue weighted 50%, 67% of overall bonus opportunity | |
| Payment | Quarterly | |
| Opportunity | 100% of Base Salary | |
| Quarterly Minimums | 80% of revenue and operating income plan | |
| Board Discretion | This bonus table is for guideline purposes only - actual amounts may vary | |
| Executive | Rob Eberle and Pete Fortune |
| Operating Income | ||||||||||||
| % Revenue | Above 80% | Above 90% | 100% | Above 100% | Above 110% | Above 120% | ||||||
| 80% | 20% | 25% | 35% | 45% | 55% | 65% | ||||||
| 85% | 25% | 30% | 45% | 55% | 65% | 75% | ||||||
| 90% | 30% | 35% | 55% | 65% | 75% | 85% | ||||||
| 95% | 35% | 45% | 65% | 75% | 85% | 90% | ||||||
| 100% | 40% | 55% | 75% | 85% | 90% | 95% | ||||||
| 105% | 45% | 65% | 85% | 90% | 95% | 100% | ||||||
| 110% | 50% | 75% | 90% | 95% | 100% | 100% | ||||||
In addition to the above table, 33% of overall quarterly bonus opportunity will be earned based on achievement of key management objectives established at the beginning of the fiscal year.
The Board may in its discretion award bonuses on a quarterly or annual basis based on operating performance, corporate events or other circumstances which in the Compensation Committee’s discretion is warranted.
