Executive Officer Bonus Plan for FY 2009 (Rob Eberle and Peter Fortune)
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Summary
This agreement outlines the bonus plan for executive officers Rob Eberle and Peter Fortune for fiscal year 2009. Bonuses are based on achieving specific revenue and operating income targets, with payments made quarterly. The bonus opportunity is up to 120% of base salary for Eberle and 100% for Fortune, with 67% tied to financial performance and 33% to management objectives. Bonuses are only paid if at least 80% of targets are met, and the Board retains discretion to adjust bonus amounts or timing based on company performance or other factors.
EX-10.1 2 ex101.htm FORM OF EXECUTIVE OFFICER BONUS PLAN ex101.htm
Exhibit 10.1
Exhibit 10.1
Form of Executive Officer Bonus Plan – FY 2009
| Assumptions: | |
| Focus | Operating Income weighted 50%; Revenue weighted 50%; 67% of overall bonus opportunity |
| Payment | Quarterly |
| Opportunity | Rob Eberle – 120% of base salary |
| Peter Fortune – 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 |
| % Revenue | Operating Income | |||||
| 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.
