Fiscal Year 2015 Variable Compensation Plan Payout Scale
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Summary
This agreement outlines the Fiscal Year 2015 Variable Compensation Plan for employees, detailing how bonuses are calculated and paid based on two performance measures: adjusted EBITDA (weighted 75%) and revenue (weighted 25%). The plan operates on a semi-annual basis, with bonuses paid after the first and second half results are published. Payouts depend on meeting specific revenue and EBITDA targets, with maximum payouts capped unless certain conditions are met. The agreement also defines how adjusted EBITDA is calculated for the purposes of the plan.
EX-10.1 2 ex101fy2015variablecompens.htm EXHIBIT 10.1 FISCAL 2015 VARIABLE COMPENSATION PLAN PAYOUT SCALE EX10.1 FY 2015 VariableCompensationPlan
EXHIBIT A: FY15 VCP
Two performance measures are measured and paid out independently:
• | Adjusted EBITDA$ weighted 75% |
• | Revenue weighted 25% |
Semi-annual plan, bonus paid on first half and second half published results.
Bonus Criteria | Bonus Weighting | Threshold VCP 0% | At Target VCP 100% | At Maximum VCP 200% | Comments |
Revenue – 1st half | 25% | $[·] M 0% | $[·] M 25% | $[·] M 50% | Payout capped at 100% until Pre-VCP EBTIDA$ target is met |
Revenue – 2nd half | 25% | $[·] M 0% | $[·] M 25% | $[·] M 50% | Payout capped at 100% until Pre-VCP EBTIDA$ target is met |
Pre-VCP EBITDA$ - 1st half | 75% | $[·] M 0% | $[·] M 75% | $[·] M 150% | |
Pre-VCP EBITDA$ - 2nd half | 75% | $[·] M 0% | $[·] M 75% | $[·] M 150% | |
For purposes of the VCP, “adjusted EBITDA” (or Pre-VCP EBITDA) is defined as operating income adjusted for VCP payouts, depreciation, amortization, stock compensation expense, major restructuring charges and certain non-operating income or expense charges.
[·] CERTAIN INFORMATION IN THIS EXHIBIT HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS.
