Onvia, Inc. 2009 Management Incentive Plan
Contract Categories:
Human Resources
- Bonus & Incentive Agreements
EX-10.10 2 mip2009.htm 2009 MANAGEMENT INCENTIVE PLAN mip2009.htm
Exhibit 10.10
| Onvia, Inc. 2009 Management Incentive Plan | ||
| Participants | Senior VP Products, Technology & Information Chief Financial Officer Chief Solutions Officer General Counsel Senior VP Sales (also participates in Sales Incentive Plan) Executive VP Corporate Sales (also participates in Sales Incentive Plan) | |
| 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 Measures | Achievement of Board defined goals around Bookings from subscription sales, Net Income, and Cash Flow | |
| Overachievement | An additional pool of 5% of Bookings above target will be accrued and distributed to one or more participants based on recommendation of CEO and approved by the Compensation Committee within its sole discretion. | |
| Bonus Target | · Sr. VP Products, Technology & Information 33% of Base Salary · Chief Financial Officer 33% of Base Salary · Chief Solutions Officer 33% of Base Salary · General Counsel 11% of Base Salary · Sr. VP Sales $25,000 · Exec. VP Bus. Dev. $25,000 | |
| Terms of Funding and Payment | · Bonus pool is funded upon achievement of all three achievement measures · For Sr. VP Products, Technology & Information, 100% of the Bonus Target will be paid upon achievement of all three achievement measures described above · For all participants other than the Sr. VP Products, Technology & Information, 50% of the Bonus Target will be paid upon achievement of all three achievement measures described above and the remaining 50% will be paid upon achievement of individual performance goals · Bonus pool to be funded and targets paid upon certification of measures achieved by the Compensation Committee | |
