Sales Executive Compensation Plan Description and Summary Form of Notice (Effective June 27, 2005)

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This agreement outlines the compensation plan for a sales executive, specifying the mix of base salary and target incentive, with on-target earnings calculated accordingly. The plan includes quarterly bonuses based on revenue and contribution margin performance, with specific percentages allocated to each component. Bonus payments depend on meeting certain revenue and margin targets, and accelerators are only paid if margin targets are achieved. The agreement is effective as of June 27, 2005, and requires approval by the appropriate party.

Read More Arrow
EX-10.2 3 ex1002.htm Exhibit 10.2

Sales Executive Compensation Plan Description and Summary Form of Notice
Effective June 27, 2005

[ INSERT NAME ]
Annual Target Compensation Mix
     
Base Salary:    USD 
Target Incentive (TI):    USD __% of Base Salary 
     
On Target Earnings (OTE):    USD 
     
OTE Quarterly Plan Components     

I.      Quarterly Geographic (Products and Service) Revenue Bonus
 
 
  		• Quarterly Revenue Bonus equals 40% of total TI (10% each quarter).
     
  		• Paid quarterly based on performance against quarterly revenue plan.
     
  		• Quarterly bonus payment per Table I, Schedule A, if Contribution Margin target is not achieved in the same quarter.
     
  		• Quarterly bonus payment per Table I, Schedule C, if Contribution Margin target is achieved in the same quarter.
     
  		• Accelerators on revenue component are not paid unless Contribution Margin target is achieved in the same quarter.
     
    II.      Quarterly Geographic Contribution Margin
     
  		• Quarterly Contribution Margin equals 60% of total TI (15% each quarter).
     
  		• Paid quarterly based on performance against Quarterly Geographic Contribution Margin Plan.
     
  		• Quarterly bonus payment per Table I, Schedule B.
     
  		• Measurement is based on Geographic Contribution Margin dollars.
     
     
     
     
    Approved by:    Date: