Jupitermedia Corporation 2007 Cash Bonus Plan Agreement with Christopher Cardell
This agreement outlines the 2007 cash bonus plan for Christopher Cardell, President and COO of Jupitermedia Corporation. It specifies that Mr. Cardell is eligible for an annual incentive bonus of up to $235,900, based on achieving set revenue and EBITDA targets, as well as completing the conversion of financial reporting systems and other management objectives. The bonus is subject to approval by the Compensation Committee and excludes results from certain acquisitions. The agreement is effective for the period from January 1 to December 31, 2007.
Exhibit 10.7
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: | Christopher Cardell | |
| Date: | January 1, 2007 | |
| Name: | Christopher Cardell | Base Salary | $ | 337,000 | |||
| Title: | President and COO | ||||||
| Maximum Annual Incentive | $ | 235,900 | |||||
| (70% of Base) | |||||||
Annual Incentive Compensation:
Annual incentive compensation will be earned based on the following three objectives
| • | Achievement of Revenue Target - Maximum Incentive = $78,633 (See schedule A) |
| • | Achievement of EBITDA Target - Maximum Incentive = $78,633 (See schedule B) |
| • | Achievement of conversion of financial reporting systems to Oracle Financials and other management objectives based on the discretion of the Compensation Committee - - Maximum Incentive = $78,634 |
Total Maximum Incentive = $235,900
| Revenue Target 2007 (See Schedule A) | $ | 147,433,747 | |||||||||
| Amount Available For Annual Incentive | $ | 78,633 | |||||||||
| Percent of Target | Bonus % Earned | Bonus Amount Earned | |||||||||
| 115 | % | 100 | % | $ | 78,633 | (Maximum) | |||||
| 110 | % | 80 | % | 62,906 | |||||||
| 105 | % | 60 | % | 47,180 | |||||||
| 100 | % | 40 | % | 31,453 | |||||||
| 95 | % | 20 | % | 15,727 | |||||||
| 90 | % | 0 | % | — | |||||||
| EBITDA Target 2007 (See Schedule B) | $ | 33,752,111 | |||||||||
| Amount Available For Annual Incentive | $ | 78,633 | |||||||||
| Percent of Target | Bonus % Earned | Bonus Amount Earned | |||||||||
| 115 | % | 100 | % | $ | 78,633 | (Maximum) | |||||
| 110 | % | 80 | % | 62,906 | |||||||
| 105 | % | 60 | % | 47,180 | |||||||
| 100 | % | 40 | % | 31,453 | |||||||
| 95 | % | 20 | % | 15,727 | |||||||
| 90 | % | 0 | % | — | |||||||
|
Achievement of conversion of financial reporting systems to Oracle Financials and other management objectives based on the discretion of the Compensation Committee
|
| ||||||||||
| Amount Available For Annual Incentive | $ | 78,634 | |||||||||
| • | 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 |
| Christopher Cardell |
