2021 Executive Bonus Plan

EX-10.1 2 shsp_ex10-1.htm 2021 EXECUTIVE BONUS PLAN shsp_ex10-1

Exhibit 10.1

Appendix D

Bonus plan for executive officers:

Designed to incent performance

Paid quarterly

Quarterly payment is limited to a maximum of 100% of the quarterly amount and is trued up at year end including clawback, as needed

True up - if over of 100% annually, payment for over achievement is at year-end

Bonus payment is capped at 150% maximum

Breakout for financial performance components

Purpose is to drive performance on targeted goals

Components

80% based on Net Revenue

20% based on EBITDA

Goal is based on approved board budget after adjusting for salary, bonus, and any related expense resulting from the approval of other items during this meeting

Payout percentages shall be based on the following formula:

Calculate actual Net Revenue attainment vs. goal as a percentage (item i);

ii.

Calculate actual EBITDA attainment vs. goal as a percentage (item ii);

iii.

If the result of either item (i) or (ii) is less than 85%, that discrete item shall pay 0%, and the remaining item shall be paid discretely based the formula starting in step (v) below;

iv.

If both items (i) and (ii) are over 85%, then weighted average the result of items (i) and (ii) above (result is item iii);

If the result of item (iii) is less than 90%, payout shall be 0%;

vi.

At 90%, participants will earn 90% of the eligible bonus; and for each percentage over 90% but less than 100%, the payout will increase by 1.00%;

vii.

For each percentage over 100% but less than 120%, the payout will increase by 2.50%