2008 Executive Incentive Plan for Senior Management

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This agreement outlines the 2008 Executive Incentive Plan for company executives, including the CEO and Vice Presidents. The plan sets quarterly performance targets based on average monthly revenue growth (AMRG), EBITDA, and individual management objectives (MBOs). Each metric has specific weightings and payout ranges, with targets set at the start of the year or quarter. Payouts depend on achieving or exceeding these targets, with higher performance resulting in higher incentive payments. The plan ensures that executive bonuses are tied to measurable company and individual performance goals.

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EX-10.19 2 b68190ccexv10w19.htm EX-10.19 2008 EXECUTIVE INCENTIVE PLAN exv10w19  

Exhibit 10.19
 
2008 Executive Incentive Plan

 

Incentive Structure Quarterly weightings Metrics Weighting of metrics Target setting Target leverage and ranges First half 2008 targets

 

Quarterly Weightings Q1 25% of annual target Q2 25% of annual target Q3 25% of annual target Q4 25% of annual target

 

Metrics AMRG Defined as average monthly "gross" revenue growth during a quarter EBITDA Defined as GAAP operating income plus depreciation and amortization plus non-cash stock based compensation Individual MBOs MBOs must be specific, measurable, attainable, realistic and time-based

 

Weighting of Metrics Weighting of metrics - CEO AMRG - 70% EBITDA - 30% Weighting of metrics - Vice Presidents AMRG - 50% EBITDA - 20% Individual MBOs - 30%

 

Target Setting AMRG set equal to budget / reforecast levels Set at beginning of year and mid-year EBITDA set equal to budget / reforecast levels Set at beginning of year and mid-year Individual MBOs Set at beginning of quarter

 

Target Leverage and Ranges AMRG Minimum threshold 85%; payout of 50% of target Maximum threshold 135%; payout of 217% of target Each 1% above 85% increases payout by 3.333% EBITDA margin Minimum threshold 95%; payout of 95% of target Maximum threshold 105%; payout of 105% of target Each 1% above 95% increases payout by 1% MBOs No minimum threshold Maximum threshold 100% Payout equal to % attainment of target

 

Target Leverage and Ranges