Endurance International Group Holdings, Inc. 2014 Management Incentive Program
Endurance International Group Holdings, Inc. established this 2014 Management Incentive Program to reward eligible Director-level and above employees with quarterly bonuses based on company performance. Bonus amounts depend on the company meeting specific revenue growth and EBITDA targets, as well as individual performance evaluations. Employees must be actively employed and in good standing at the time of payment to qualify. The program excludes those participating in other incentive plans and is subject to the discretion of the company's Board of Directors.
Exhibit 10.10
 | 2014 Management Incentive Program |
Purpose
The purpose of the Endurance International Group Holdings, Inc. (the “Company”) Management Incentive Program is to share the success of the company on a quarterly basis. This document describes guidelines and administration.
In general, incentive plans can be described as a process for establishing a pool of value to be distributed to employees coupled with a process for determining who is eligible to receive a distribution and how the pool will be allocated between eligible employees.
Eligibility
Eligibility is determined by role and level within the organization; generally Director-level (SM) and above Exempt professionals. Eligible employees are notified in writing. Employees must be hired within the first two months of the quarter to be eligible for that quarter’s bonus. To receive payment, an employee must be actively working for the Company at the time payment is made and in good standing. Any Employee eligible to participate in any other discretionary incentive plan including without limitation a sales commission plan is ineligible.
Participation Level
Individual target bonus percentage is determined by Organization Level.
Eligible Earnings
Eligible earnings include payments made during the quarter of regular earnings excluding payments for overtime, bonuses and other special or incentive payments.
Quarterly Bonus Pool Determination
Bonus pool funding is dependent upon reaching Revenue growth and EBITDA targets set by management. A minimum threshold must be achieved by the Company before any bonus will be paid. At the end of the month following the end of a quarter, a Company Achievement Factor is determined based upon performance results provided by the Finance group.
The Company Achievement Factor is based on the Company’s performance, and is weighted 60% on Revenue growth and 40% on EBITDA performance. EBITDA and Revenue minimum performance threshold is set at 90%. The plan can pay out if one target is hit but not the other. Achievement of 100% EBITDA and 100% revenue performance will equate to 100% funding of the bonus pool. Plan performance is capped at 100% for the first three quarters of the year. Fourth quarter payments will not be capped and may include an annual adjustment.
Example: 92.3% Achievement g 70.7% Payout Factor
Calculation Guidelines
In addition to the corporate goals set by management, the bonus calculation is dependent upon individual performance as determined by direct manager.
Example
| Eligible Earnings: | $25,000 | |
| Target %: | 10% or $2,500 | |
| Achievement Factor: | 70.7% or $1,768 | |
| Individual Performance adjustment: | 110% or $1,944 | |
| Final Bonus Payment | $1,944 |
Payment Timing
Payments are made via payroll in the following quarter after earnings are released. All payments and program funding are at Board discretion.
| 2 | MIP |
