BroadVision 2008 Employee Profit Sharing Plan Framework

Contract Categories: Human Resources › Profit Sharing Plans
Summary

BroadVision's 2008 Employee Profit Sharing Plan is designed to retain employees by sharing company profits if certain financial goals are met. The plan runs from January 1 to December 31, 2008, and covers eligible full-time and qualifying part-time employees. Profit-sharing payouts are made quarterly, based on a percentage of profits and each employee's base salary, with eligibility and payout amounts determined at management's discretion. Employees must be actively employed at payout time to receive awards, and the CEO has final authority over all payments.

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EX-10.1 2 exhibit10-1.htm 2008 EMPLOYEE PROFIT SHARING PLAN FRAMEWORD DOCUMENT 2008 EMPLOYEE PROFIT SHARING PLAN FRAMEWORD DOCUMENT
BROADVISION
Framework for FY 2008
Employee Profit-Sharing Plan (EPSP)
 
Plan objective:
The program is designed to retain our talented employees by sharing company profitability once a certain threshold has been met and maintained on a sustainable basis.  It is also intended to underscore the commitment to turning around our company by aligning and rewarding behavior that leads to achieving a profitable business model and other company objectives.
   
Plan duration:
January 1 ~ December 31 2008
   
Plan details:
1. EPSP award pool allocation methodology approved by BOD Compensation Committee at the beginning of the year and implemented by management on a quarterly basis.
2. Eligible persons are active, full-time or more than seventy-five percent (>75%) part-time employees who maintain a satisfactory standing during the entirety of each quarter and who remain an employee at the time of each quarterly payout.  The company reserves the right to make certain exclusions or exceptions regarding eligibility on a case-by-case basis.
3. Part-time or on-leave employees are eligible for a pro-rated amount based on the number of actual regular hours worked.
4. Payouts are targeted at a certain percentage of each individual's base salary, set and/or adjusted with management discretion.
5. Payment is made on the first regularly scheduled pay date after the announcement of quarterly earnings, or on such other date as deemed appropriate by management.
6. All amounts earned but not paid under the plan (reductions from any "merit factor", resignations with positive profit-sharing accruals, etc) are eliminated, going back into company earnings.
7. Award pool allocation will be determined as a percentage of profits; after close of each quarter, management, in its sole discretion, will set the percentage for the corresponding quarter.
8. Payouts are subject to adjustment by management, and the CEO has final determination of all profitability payments.