Cornerstone OnDemand 2021 Executive Bonus Plan Summary
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Summary
Cornerstone OnDemand, Inc. established a 2021 executive bonus plan for its executive officers, including the CEO, CFO, CTO, President of Global Field Operations, and Chief Marketing & Strategy Officer. Under this plan, each executive is eligible for a bonus based on the company's performance in annual recurring revenue and operating income. Bonuses are only paid if specific performance thresholds are met, and the amounts may vary depending on how well the company meets or exceeds these targets. The plan sets target bonus amounts for each executive officer for the year.
EX-10.25 3 exhibit1025summaryof2021ex.htm EX-10.25 Document
Exhibit 10.25
Summary of 2021 Executive Bonus Plan
On February 17, 2021, the Compensation Committee of the Board of Directors of Cornerstone OnDemand, Inc. (the “Company”) established an executive compensation plan for fiscal year 2021 (the "2021 Plan") as part of its annual review of target incentive compensation for the Company's executive officers.
Under the terms of the 2021 Plan, each of the eligible executive officers will be entitled to receive a bonus that will vary in amount depending on the Company’s success in achieving certain performance targets with respect to annual recurring revenue and operating income. The amount payable with respect to each metric may be greater or less depending on the extent to which the Company’s performance exceeds or falls short of the applicable target. No bonus payout for a particular performance metric will be earned unless the performance threshold for that metric is met.
The following table shows the target bonus amount payable under the 2021 Plan if the Company achieves each performance metric at target for each of the following executive officers:
| Executive Officer | Target Bonus Amount | ||||
| Mark Goldin, Chief Technology Officer | $ | 262,500 | |||
| Jeffrey Lautenbach, President of Global Field Operations | 412,000 | ||||
| Phil Saunders, Chief Executive Officer | 525,000 | ||||
| Chirag Shah, Chief Financial Officer | 262,500 | ||||
| Heidi Spirgi, Chief Marketing & Strategy Officer | 204,000 | ||||
