Description of 2021 Executive Bonus Plan
Contract Categories: Human Resources - Bonus & Incentive Agreements
EX-10.25 3 exhibit1025summaryof2021ex.htm EX-10.25 Document
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|