2005 Annual Incentive Program Goals and Awards for Named Executive Officers
This document outlines the 2005 Annual Incentive Program for the named executive officers of the company, specifying their base salaries, potential bonus percentages, and the performance goals required to earn those bonuses. Each executive has a set of weighted goals tied to company performance, such as sales growth, product development, cost control, and revenue targets. Bonuses are awarded based on the achievement of these goals within the 2005 calendar year.
Exhibit 10.2
2005 Annual Incentive Program Goals and Awards for the Named Executive Officers
Alexander Davern, Chief Financial Officer, Senior Vice President Manufacturing & IT Operations; Treasurer
1/1/05 Base Salary: $250,000 2005 Officer Bonus Goal % Goal Weighting Goal 1) Develop and present to the Board a coordinated plan for obtaining annual sales growth 10% $ 7,500 2) Manufacturing to meet delivery and quality goals 20% $ 15,000 3) Achieve gross margin goal 20% $ 15,000 4) Ensure 2005 spending within budget 20% $ 15,000 5) Achieve internal controls goals 15% $ 11,250 6) Drive down IT & Finance worldwide costs per employee 15% $ 11,250 Total 100% $ 75,000
Bonus % Potential:
Bonus Dollars:
30%
$75,000
$ Value
Timothy Dehne, Senior Vice President, Research & Development
1/1/05 Base Salary: $235,000 2005 Officer Bonus Goal % Goal Weighting Goal 1) Develop and present to the Board a coordinated plan for obtaining annual sales growth 10% $ 7,050 2) Achieve scheduled product development release goals and increase new product output 30% $ 21,150 3) Achieve strategic initiative goals 25% $ 17,625 4) Achieve product revenue goals 25% $ 17,625 5) Achieve gross margin and EROI goals 10% $ 7,050 Total 100% $ 70,500
Bonus % Potential:
Bonus Dollars:
30%
$70,500
$ Value
Peter Zogas, Senior Vice President Sales & Marketing
1/1/05 Base Salary: $240,000 2005 Officer Bonus Goal % Goal Goal $ 1) Develop and present to the Board a coordinated plan for obtaining annual sales growth 10% $ 7,200 2) Achieve new product revenue goals 25% $ 18,000 3) Achieve applications goals 25% $ 18,000 4) Meet quota for major accounts 20% $ 14,400 5) Achieve keynote delivery goals 20% $ 14,400 Total 100% $ 72,000
Bonus % Potential:
Bonus Dollars:
30%
$72,000
Weighting
Value
John Graff, Vice President, Marketing, Customer Operations and Investor Relations
1/1/05 Base Salary: $205,000 2005 Officer Bonus Goal % Goal Goal $ 1) Achieve product revenue goals 25% $ 10,250 2) Achieve interactions goals 20% $ 8,200 3) Achieve web revenue goals 20% $ 8,200 4) Achieve keynote system goals 20% $ 8,200 5) Drive down worldwide marketing costs 15% $ 6,150 Total 100% $ 41,000
Bonus % Potential:
Bonus Dollars:
20%
$41,000
Weighting
Value