Jupitermedia Corporation Cash Bonus Plan Agreement with CEO Alan Meckler (2007)

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This agreement between Jupitermedia Corporation and CEO Alan Meckler outlines the terms for a cash bonus plan for 2007. Meckler is eligible for an annual incentive of up to $240,450, based on achieving specific revenue and EBITDA targets, as well as management objectives set by the Compensation Committee. The bonus is paid after year-end approval and excludes results from acquisitions except for Studio Cutz and ISPCON. The agreement is signed by Meckler and the Compensation Committee.

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EX-10.6 6 dex106.htm CASH BONUS PLAN AGREEMENT, DATED AS OF JANUARY 1, 2007 Cash Bonus Plan Agreement, dated as of January 1, 2007

Exhibit 10.6

Jupitermedia Corporation

Compensation Plan

For the Period from January 1 - December 31, 2007

 

From:

    Compensation Committee:
   Michael J. Davies
   Gilbert Bach
   John Patrick
   William Shutzer

To:

    Alan Meckler

Date:

    January 1, 2007
 

Name:

   

Alan Meckler

   

Base Salary

    $  343,500
            

Title:

   

CEO

      
     

Maximum Annual Incentive

    $ 240,450
            
      (70% of Base)   

Annual Incentive Compensation:

Annual incentive compensation will be earned based on the following three objectives

 

  •  

Achievement of Revenue Target - Maximum Incentive = $80,150 (See schedule A)

 

  •  

Achievement of EBITDA Target - Maximum Incentive = $80,150 (See schedule B)

 

  •  

Achievement of management staffing, management succession and other management objectives based on the discretion of the Compensation Committee - Maximum Incentive = $80,150

Total Maximum Incentive = $240,450

 

   

Revenue Target 2007 (See Schedule A)

    $ 147,433,747      

Amount Available For Annual Incentive

    $ 80,150      
     Percent of Target     Bonus % Earned     Bonus Amount Earned  
     115 %   100 %   $ 80,150  (Maximum)
     110 %   80 %     64,120  
     105 %   60 %     48,090  
     100 %   40 %     32,060  
     95 %   20 %     16,030  
     90 %   0 %     —    
   

EBITDA Target 2007 (See Schedule B)

    $ 33,752,111      

Amount Available For Annual Incentive

    $ 80,150      
     Percent of Target     Bonus % Earned     Bonus Amount Earned  
     115 %   100 %   $ 80,150  (Maximum)
     110 %   80 %     64,120  
     105 %   60 %     48,090  
     100 %   40 %     32,060  
     95 %   20 %     16,030  
     90 %   0 %     —    
   

 

Achievement of management staffing, management succession and other management objectives

based on the discretion of the Compensation Committee

 

 

 

Amount Available For Annual Incentive

    $ 80,150    
                

 

•  

Annual Incentive is payable upon Compensation Committee approval after year end.

•  

Annual Incentive excludes acquisitions other than Studio Cutz acquired on 1/18/07 and ISPCON acquired on 1/30/07, the results of which are reflected in the attached 2007 reforecast.

 

ACCEPTED AND AGREED UPON BY THE UNDERSIGNED:

 

Signature

Alan Meckler