Sales Compensation Plan for Vice President of Worldwide Sales of Silicon Image, Inc. (FY 2007)
Contract Categories:
Human Resources
›
Bonus & Incentive Agreements
Summary
This agreement outlines the 2007 sales compensation plan for the Vice President of Worldwide Sales at Silicon Image, Inc. The VP will receive cash incentive payments based on the percentage of annual sales quota achieved, with no payment for less than 70% achievement. Payments increase incrementally for higher performance, and there is no cap on the total incentive. For 2007, minimum payments are guaranteed for the second and third quarters, with the second quarter payment prorated from April 23, 2007. The fourth quarter payment is based on actual results.
EX-10.02 3 f32210exv10w02.htm EXHIBIT 10.02 exv10w02
EXHIBIT 10.2
SALES COMPENSATION PLAN
SALES COMPENSATION PLAN FOR VICE PRESIDENT OF WORLDWIDE SALES
FOR FISCAL YEAR 2007
The current Vice President of Worldwide Sales (the “VP of Worldwide Sales”) of Silicon Image, Inc. (the “Company”) will receive a cash payment based on the percentage of achievement of the quota goal for the fiscal year ending December 31, 2007, as set forth in the table below.
| Percent | ||||||||
| Achievement of | Amount of Cash | Percent of Incentive | ||||||
| Planned Revenue | Incentive Payment | Target Amount | ||||||
70% | $ | 98,000 | 70.00 | % | ||||
75% | $ | 105,000 | 75.00 | % | ||||
80% | $ | 112,000 | 80.00 | % | ||||
85% | $ | 119,000 | 85.00 | % | ||||
90% | $ | 126,000 | 90.00 | % | ||||
95% | $ | 133,000 | 95.00 | % | ||||
100% | $ | 140,000 | 100.00 | % | ||||
105% | $ | 176,250 | 125.89 | % | ||||
110% | $ | 234,250 | 167.32 | % | ||||
115% | $ | 306,750 | 219.11 | % | ||||
120% | $ | 379,250 | 270.89 | % | ||||
125% | $ | 451,750 | 322.68 | % | ||||
130% | $ | 524,250 | 374.46 | % | ||||
135% | $ | 596,750 | 426.25 | % | ||||
140% | $ | 669,250 | 478.04 | % | ||||
145% | $ | 741,750 | 529.82 | % | ||||
150% | $ | 814,250 | 581.61 | % | ||||
No amounts are payable if the VP of Worldwide Sales achieves less than seventy percent (70%) of his quota goal. A cash incentive payment in the amount of $98,000 is payable to the VP of Worldwide Sales upon achievement of seventy percent (70%) of his quota goal. An incremental cash incentive payment is payable to the VP of Worldwide Sales in the amount of $1,400 for each incremental percentage point of his quota goal achieved between seventy one percent (71%) and one hundred percent (100%). Thereafter, an incremental cash incentive payment is payable in the amount of $7,250 for each incremental percentage point of his quota goal achieved between one hundred one percent (101%) and one hundred seven percent (107%). An incremental cash incentive payment is payable in the amount of $14,500 for each incremental percentage point of his quota goal achieved over one hundred seven percent (107%). The amount of cash incentive payment payable under this Plan is not capped. Actual amounts between the percentage point shown in the table above will be calculated on pro-rata basis.
For 2007 only, the company is guaranteeing minimum cash payments to the VP of Worldwide Sales for the second quarter (three month period ending June 30) and third quarter (three month period ending September 30) assuming achievement of one hundred percent (100%) of the quota goals for such periods; provided, however, that the cash payment for the second quarter will be prorated beginning April 23, 2007 (the date that the VP of Worldwide Sales assumed the position) thru the end of the second quarter. The fourth quarter (period ending December 31) will be paid based on actual results.
