FY22 Executive Committee Incentive Plan Design and Payout Terms
This document outlines the incentive plan for the Executive Committee for fiscal year 2022. Awards are based on 75% Net New Annual Recurring Revenue (NNARR) and 25% Non-GAAP Operating Income, with payouts interpolated based on performance. Each metric can earn up to 150% per quarter, but overall quarterly payouts are capped at 100%, with any excess reconciled at year-end. If annual targets are met, any underpaid quarters are adjusted in the final payout. The plan is subject to the company's clawback policy and uses constant currency adjustments.
Metrics & Weighting: 75% Net New ARR / 25% Non-GAAP Operating Income. Awards are interpolated between achievement percent (e.g., 102.5% NNARR achievement results in award of 105%). Each metric is capped at 150% of award quarterly; overall quarterly award payments are capped at 100% with any overachievement earned to be reconciled at year end. If the full year metric target is achieved, then any quarters that were paid at less than 100% will be paid out at target for that missed quarter and included in the Q4 award. NNARR and Non-GAAP operating income financial performance measures are adjusted on a constant currency basis. Subject to clawback policy. FY22 Payout Scale w/out Financial Targets FY22 ExCo Incentive Plan Design Exhibit 10.2
