EVP Global Sales Compensation Plan for 2012
This agreement outlines the 2012 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 annual incentive bonus of up to $300,000, based on company performance against revenue and EBITDA targets. Incentive payments are determined by year-end results, with specific bonus amounts tied to varying levels of revenue achievement. The total bonus is capped at $600,000, and additional bonuses are awarded for revenue exceeding set targets.
Exhibit 10.3
EVP Global Sales Compensation Plan
| 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 2012. The metrics are annual Revenue and Global EBITDA (the EBITDA target is the same as is set for other Executives in the SGA MIP) | |
| 2012 Targets | Revenue $[***] (80% weighting) EBITDA $[***] (20% weighting) | |
| Incentive Payments | Incentive payments will be made on an annual basis; performance is tied to year end results | |
2012 Potential Payment Outcomes – EVP Global Sales
| Actual Revenue | ||||||||||||||||||||||||||||||||||
| Target - $94.9MM | Target - $69.9MM | Target - $44.9MM | Target - $19.9MM | Target | Target + $25MM | Target + $50MM | Target + $75MM | |||||||||||||||||||||||||||
| | Target - $19.9MM | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | |||||||||||||||||
| Target - $12.9MM | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||||||||||
| Target - $11MM | $ | 0 | $ | 175,978 | $ | 200,978 | $ | 225,978 | $ | 275,978 | $ | 367,978 | $ | 459,978 | $ | 551,978 | ||||||||||||||||||
| Target - $5.5MM | $ | 0 | $ | 187,989 | $ | 212,989 | $ | 237,989 | $ | 287,989 | $ | 379,989 | $ | 471,989 | $ | 563,989 | ||||||||||||||||||
| Target | $ | 0 | $ | 200,000 | $ | 225,000 | $ | 250,000 | $ | 300,000 | $ | 392,000 | $ | 484,000 | $ | 576,000 | ||||||||||||||||||
| Target + $5.1MM | $ | 0 | $ | 211,137 | $ | 236,137 | $ | 261,137 | $ | 311,137 | $ | 403,137 | $ | 495,137 | $ | 587,137 | ||||||||||||||||||
| Target + $11MM | $ | 0 | $ | 224,022 | $ | 249,022 | $ | 274,022 | $ | 324,022 | $ | 416,022 | $ | 508,022 | $ | 600,000 | ||||||||||||||||||
Over target revenue of $[***] each $1M of additional revenue, bonus will increase by [***]% of revenue increase to a maximum of a $600,000 total bonus.
