2013 EVP Global Sales Compensation Plan Elements Recommendation
This agreement outlines the 2013 compensation plan for the Executive Vice President (EVP) of Global Sales. The EVP will receive a base salary of $300,000 and is eligible for an incentive target of $300,000, with total target annual compensation of $600,000. Incentive payments are based on the company's annual revenue and global EBITDA performance, each weighted at 50%. Payments are made annually and are tied to year-end results, with specific bonus amounts depending on the achievement of set financial targets. The maximum possible bonus is $600,000.
Exhibit 10.3
2013 EVP Global Sales Compensation
| Plan Elements |
| Recommendation |
| Base Salary |
| $300,000 |
| Incentive Target $ |
| $300,000 |
| Total Target Annual Comp |
| The EXECSIP is based on performance against two financial metrics in 2013. The metrics are annual Revenue and Global EBITDA (the EBITDA target is the same as is set for other Executives in the SGA MIP) |
| 2013 Targets |
| Revenue $[***] (50% weighting) EBITDA $[***] (50% weighting) |
| Incentive Payments |
| Incentive payments will be made on an annual basis; performance is tied to year end results |
2013 Potential Payment Outcomes — EVP Global Sales
|
|
| Actual Revenue |
| ||||||||||||||||||||||
| Achieved EBITDA |
| Target - |
| Target — |
| Target - |
| Target - |
| Target |
| Target + |
| Target + |
| Target + |
| ||||||||
| Target - $28.7MM |
| $ | 0 |
| $ | 0 |
| $ | 0 |
| $ | 0 |
| $ | 0 |
| $ | 0 |
| $ | 0 |
| $ | 0 |
|
| Target - $23.0MM |
| $ | 0 |
| $ | 0 |
| $ | 0 |
| $ | 0 |
| $ | 0 |
| $ | 0 |
| $ | 0 |
| $ | 0 |
|
| Target - $17.2MM |
| $ | 0 |
| $ | 0 |
| $ | 0 |
| $ | 0 |
| $ | 0 |
| $ | 0 |
| $ | 0 |
| $ | 0 |
|
| Target - $11.6MM |
| $ | 0 |
| $ | 0 |
| $ | 0 |
| $ | 150,000 |
| $ | 276,000 |
| $ | 368,000 |
| $ | 460,000 |
| $ | 552,000 |
|
| Target |
| $ | 0 |
| $ | 0 |
| $ | 0 |
| $ | 174,000 |
| $ | 300,000 |
| $ | 392,000 |
| $ | 484,000 |
| $ | 576,000 |
|
| Target + $5.3MM |
| $ | 0 |
| $ | 0 |
| $ | 0 |
| $ | 185,137 |
| $ | 311,137 |
| $ | 403,137 |
| $ | 495,137 |
| $ | 587,137 |
|
| Target + $11.5MM |
| $ | 0 |
| $ | 0 |
| $ | 0 |
| $ | 198,022 |
| $ | 324,022 |
| $ | 416,022 |
| $ | 508,022 |
| $ | 600,000 |
|
Over target revenue of $[***] for each $1M of additional revenue: bonus will increase by [***]% of revenue increase to a maximum of a $600,000 total bonus.
