EnteroMedics Inc. Management Incentive Plan for Executives

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This agreement outlines EnteroMedics Inc.'s Management Incentive Plan for its executive team, including the President and CEO, Senior Vice President, Vice President, and Controller. The plan sets target bonus percentages based on position and specifies how bonuses are determined by a mix of corporate and individual objectives. Objectives are set and approved annually by executive management and the Board of Directors, with bonus awards reviewed and approved after the fiscal year ends. The plan aims to align executive compensation with company and individual performance.

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EX-10.16 5 dex1016.htm MANAGEMENT INCENTIVE PLAN Management Incentive Plan

EXHIBIT 10.16

EnteroMedics Inc.

Management Incentive Plan

 

 

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Executives defined as the following “exempt only” positions:

 

  o President and CEO;
  o Senior Vice President;
  o Vice President; and
  o Controller.

 

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Target bonus as a percentage of base salary:

 

  o 30%—President and CEO;
  o 25%—Senior Vice President;
  o 20%—Vice President; and
  o 15%—Controller.

 

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Corporate and individual objective weighting by position:

 

  o 100% corporate/0% individual—President and CEO;
  o 90% corporate/10% individual—Senior Vice President;
  o 75% corporate/25% individual—Vice President; and
  o 40% corporate/60% individual—Controller.

 

 

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Corporate and individual objectives are to be established by the President and CEO and executive management and approved by the Board of Directors at the recommendation of the Compensation Committee in the 1st quarter of the fiscal year.

 

 

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The Compensation Committee will review and recommend to the Board of Directors for approval the achievement of the corporate and individual objectives in awarding bonuses in the 1st quarter of the fiscal year for the preceding fiscal year’s objectives.