Onvia, Inc. Management Incentive Plan
Contract Categories:
Human Resources
- Bonus & Incentive Agreements
EX-10.11 2 exh_1011.htm EXHIBIT 10.11 exh_1011.htm
Exhibit 10.11
| Onvia, Inc. Management Incentive Plan | |
| Participants | Officers of Onvia, Inc. |
| Objectives | · Achieve corporate performance that most reflect stockholder interests · Drive and reward unified performance across executive team · Focus on building trend for long-term, profitable growth |
| Key Achievement Metrics | Achievement of Board defined goals including without limitation Bookings, Net Income, EBITDA and cash flow. |
| Bonus Target | Between 22% - 80% of Base Salary for Participants |
| Overachievement | If the Company’s performance against the Key Achievement Metrics exceeds the target goals established by the Board, the Board has established accelerators to modify the Participants’ award levels. |
| Terms of Funding and Payment | · If the Company’s performance against the Key Achievement Metrics falls below the floor goals established by the Board, the bonus pool shall not be funded. · If the Company’s performance meets the floor goals established by the Board, 25% of bonus targets shall be paid. · If the Company’s performance falls between floor and target goals, bonus targets shall be prorated. · Bonus pool to be funded and bonus targets paid upon certification by the Compensation Committee of metrics achieved by the Company. |
| Supplemental Bonus Plan | A supplemental bonus will be paid to certain Participants if 50% of Key Achievement Metrics are achieved by the first half of the plan year. |
