2013 Corporate Goals and Incentive Plan for Strategic Leadership Team
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Summary
This document outlines the 2013 corporate goals and incentive plan for the company's Strategic Leadership Team, as approved by the Compensation Committee. It details how bonuses or payouts are determined based on the company's revenue growth, operating income, managed care achievements, product milestones, and compliance with ethics requirements. The plan specifies performance targets and corresponding payout percentages, with certain confidential thresholds omitted. The agreement is effective for the 2013 fiscal year and is designed to align leadership incentives with company performance.
EX-10.1 2 exhibit101.htm EXHIBIT Exhibit 10.1
Exhibit 10.1
*** Text Omitted and Filed Separately
Confidential Treatment Requested
Under 17 CFR §§240.24b-2
2013 Corporate Goals for Strategic Leadership Team
Approved by the Compensation Committee on April 29, 2013
Revenue and Operating Income (50)%
Revenues for the Year - 20%
Interpolation will be used.
Total Revenue Growth Vs. Prior Year | Funding | *Corresponding Unit Growth Rate | |
≥ [***]% growth | 200% | [***] | |
≥ [***]% growth | 175% | [***] | |
≥ [***]% growth | 150% | [***] | |
≥ [***]% ([***]) | 125% | [***] | |
≥ [***]% growth | 100% | [***] | |
≥ [***]% growth | 75% | [***] | |
≥ [***]% growth | 50% | [***] | |
≥ [***]% growth | 25% | [***] | |
< [***]% growth | No Payout |
* reference only not calculated in the funding
Q4 Revenue Implications - 20%
Interpolation will be used.
• Q4 2013 growth over Q4 2012 - $13.6 million
Q4 Total Revenue Growth Vs. Prior Year | Funding | Q4 Revenues | |
≥ [***]% growth | 200% | [***] | |
≥ [***]% growth | 175% | [***] | |
≥ [***]% growth | 150% | [***] | |
≥ [***]% growth | 125% | [***] | |
≥ [***]% growth | 100% | [***] | |
≥ [***]% growth | 75% | [***] | |
< [***]% growth | No Payout |
Operating Income (millions) - 10%
Interpolation will be used.
Operating Income (Loss) [***] | Operating Loss +/- | Funding | |
([***]) | 60% | 200% | |
([***]) | 70% | 175% | |
([***]) | 80% | 150% | |
([***]) | 90% | 125% | |
([***]) target [***] | 100% | 100% | |
([***]) | 110% | 75% | |
([***]) | 120% | 50% | |
([***]) | 130% | 25% | |
([***]) | 140% | No Payout |
Managed Care (30%)
• 2 Commercial Plans (> [***] million lives in total) - 20%
○ +5% payout for each additional plan having > [***] million lives
○ e.g., 3 plans = 25% payout
• 8 Employer Conversions (> [***] lives each) - 5%
• 1 Major National Plan Win (or very high likelihood of coverage in the new year) - 5%
○ +5% if delivered by end of [***] (e.g., 10% payout)
○ +10% if delivered by end of [***] (e.g., 15% payout)
HDL-P (10%)
• FDA Clearance by the end of Q4
Compliance & Ethics (10%)
• 5% - meet the timely completion requirements of Sunshine Act
• 5% - no significant deficiency re: Adva Med Policy
[***] Certain confidential information in this document, marked by bracketed asterisks, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 promulgated under the Securities Exchange Act of 1934, as amended. Confidential treatment has been requested with respect to the omitted portions.