2012 Executive Officer Compensation Schedule for [Company Name]
This document outlines the 2012 compensation structure for the company's executive officers, including the Chief Executive Officer, Chief Financial Officer, and other key executives. It details each officer's base salary, target bonus percentages, commission eligibility, and stock-based awards. Bonuses for certain executives are paid in company stock, while others receive cash. One executive is also eligible for quarterly commissions based on company revenue. The agreement specifies that bonus and commission payments can reach up to twice the stated target percentages, depending on individual and company performance.
Exhibit 10.6
Executive Officer Compensation Information – 2012 Salaries, Target Bonus Percentages and Stock-Based
Awards
| Executive Officer | Base Salary | Bonus Target Percentage of Base Salary(1) | Commission Target Percentage of Quarterly Salary(2) | RSUs Granted | Stock Options | |||||||||||||||
| Michael Heil | $ | 333,000 | 70 | %(3) | N/A | 0 | ||||||||||||||
| Chief Executive Officer | ||||||||||||||||||||
| Darryl Baker | $ | 210,000 | 50 | %(3) | N/A | 0 | 210,000 | |||||||||||||
| Vice President, Chief Financial Officer and Treasurer | ||||||||||||||||||||
| Brian Dennison | $ | 200,000 | 35 | %(3) | 35 | %(3) | 0 | 210,000 | ||||||||||||
| Vice President, Americas Sales | ||||||||||||||||||||
| Seth Egorin | $ | 200,000 | 40 | %(3) | N/A | 0 | 210,000 | |||||||||||||
| Vice President, Marketing and Strategic Planning | ||||||||||||||||||||
| Phil Johnson | $ | 200,000 | 40 | %(3) | N/A | 0 | 210,000 | |||||||||||||
| Vice President, Product Development | ||||||||||||||||||||
| Brian Roberts | $ | 210,000 | 50 | %(3) | N/A | 0 | 210,000 | |||||||||||||
| Vice President, General Counsel and Secretary | ||||||||||||||||||||
| (1) | Participants have the opportunity to receive up to two times the stated bonus percentage of base salary based on the performance of the individual and the Company. These bonus payments will be based on a percentage of the participant’s annual base salary. |
| (2) | Mr. Dennison is also eligible to receive a quarterly commission under the Bonus Program in 2012 based on the Company’s quarterly revenue. Mr. Dennison has the opportunity to receive up to two times the stated commission percentage of base salary based on the Company’s quarterly revenue performance. These commission payments will be based on a percentage of Mr. Dennison’s quarterly salary. |
| (3) | Any bonus payments earned by Messrs. Heil, Baker, Dennison and Roberts will be paid in shares of Company stock in lieu of cash payments. Any bonus payments earned by Messrs. Egorin and Johnson, and any commission payments earned by Mr. Dennison, will be paid in cash. |
