2000 Executive Compensation Plan for Senior Management

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This agreement outlines the 2000 executive compensation plan for senior management, including the CEO, COO, CFO, and other key positions. Compensation is based on achieving specific financial targets such as revenue, operating income, and quarterly objectives. Payouts are determined by performance against set targets, with sliding scales for revenue and income, and quarterly bonuses for meeting departmental goals and earnings per share guidance. The plan specifies target amounts and payout percentages, with no upper limit for exceeding revenue or income goals.

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EX-10.15 20 a2026579zex-10_15.txt EXHIBIT 10.15 Exhibit 10.15 EXECUTIVE COMPENSATION PLAN FOR 2000 Finalized 12/20/99 Measures applied by position:
- ---------------- ------------------------------ ---------------- ------------------ PPD Revenue EPD Op Income Qtr Objectives - ---------------- ------------------------------ ---------------- ------------------ CEO, COO, CFO 40% 30% 30% - ---------------- ------------------------------ ---------------- ------------------ PPD 60% 10% 30% - ---------------- ------------------------------ ---------------- ------------------ EPD & Ops 10% 60% 30% - ---------------- ------------------------------ ---------------- ------------------ NA Sales 40% (PPD NA/ROW bookings) 30% 30% - ---------------- ------------------------------ ---------------- ------------------
PPD REVENUE (INCLUDING CONTRACT REVENUES): - - Target is $7.1M, per the Op Plan - - Same lower revenue target as the warrant pricing (start at $4.7M), but no upper limit [A graph is located here in the original document. The X axis is PPD Consolidated Revenue, with reference points of $4.7M, $7.1M and $8.8M. The Y axis designates the percentage payout. A line connecting certain intersectional points illustrates a sliding scale of payouts. At $4.7M there is 0% payout. $7.1M earns a 100% payout. $8.8M earns a 200% payout. The line continues indefinitely, illustrating higher percentage payouts for revenue greater than 8.8M.] EPD Op Income - - Op Plan target is $5.3M (about 10% of revenue) - - Since semi equipment is so volatile, don't use a steep slope on EPD income, but the forecasts are very strong and an upside would help us spend more in PPD. 50% of target is roughly the op income we hit in 1998; 150% of target would be a stretch. Estimated 1999 result is $4.0M (excluding EG license fee and associated expenses and reserves). [A graph is located here in the original document. The X axis is EPD Consolidated Operating Income, with reference points of $2.65M, $5.3M and $7.6M. The Y axis designates the percentage payout. A line connecting certain intersectional points illustrates a sliding scale of payouts. At $2.65M there is 0% payout. $5.3M earns a 100% payout. $7.6M earns a 200% payout. The line continues indefinitely, illustrating higher percentage payouts for income greater than 7.6M.] Quarterly objectives: (payout quarterly) - - Half of this payout (15% of total): 0 to 100% for meeting quarterly departmental must-do objectives in 2000 (equal portion for each objective, 25% possible each quarter) Failure to have a clear measure(s) or assumptions and contingency plans for any must-do interpreted as missing the objective; objective drops out if its assumptions did not hold. (Same process as 1999). - - Other half of this payout (15% of total): Paid for hitting or exceeding quarterly EPS "guidance", as if we were telling analysts X cents per share (rounded to nearest cent, just as we would report earnings). No payout for missing it. Paid quarterly. Targets set in December 99: Q1 1 cent Q2 1 cent Q3 4 cents Q4 6 cents