2008 Management Incentive Plan(MIP)
Contract Categories:
Human Resources
- Bonus & Incentive Agreements
EX-10.9 2 exhibit10-9.htm 2008 MANAGEMENT INCENTIVE PLAN exhibit10-9.htm
Exhibit 10.9
| 2008 Management Incentive Plan (MIP) | |
| Participants | Chief Information Officer Chief Financial Officer VP Human Resources General Counsel Senior VP Sales (also participates in Sales Incentive Plan) Executive VP Corporate Sales (also participates in Sales Incentive Plan) VP Products and Services (also participates in Product Revenue Plan) |
| Objectives | · Achieve corporate performance Shareholders care about · Drive and reward unified performance across exec team · Focus on building trend for long term, profitable growth |
| Key Achievement Measures for 2008 | Achievement of Board defined goals around Bookings Growth, Cash Flow Profitability and Profitability Objectives. |
| Bonus Target @ 100% Achievement | § VP Products and Services 33% of Base Salary § Chief Information Officer 33% of Base Salary § Chief Financial Officer 33% of Base Salary § VP Human Resources 25% of Base Salary § General Counsel 11% of Base Salary § Sr. VP Sales $25,000 § Exec. VP Bus. Dev. $25,000 |
| Terms of Achievement and Payment of Incentive Bonus | § All three Measures of Success must be achieved § All or Nothing, no partial payment or accelerators § Verification by the Board of measures achieved § Approximately January 2009 Bonus to be paid upon completion of annual audit |
