Onvia, Inc. 2011 Management Incentive Plan
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EX-10.16 7 mip2011.htm 2011 MANAGEMENT INCENTIVE PLAN mip2011.htm
| Onvia, Inc. 2011 Management Incentive Plan | |
| Participants | Executive Officers of Onvia, Inc., other than Sales Executives |
| 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 falls below the Key Achievement Metrics floor established by the Board, the bonus pool shall not be funded. · Bonus pool to be funded and targets paid upon certification by the Compensation Committee of metrics achieved by the Company. |
