Potential Second Half 2005 On-Target Bonus
Exhibit 10.1
(a) Cash Bonus Payments for 2005
On January 31, 2006, the Compensation Committee of the Board of Directors of SupportSoft, Inc. (the Company) approved the third and fourth quarter of 2005 cash awards with respect to the bonus component of the Companys chief executive officer (CEO) and other officers who are reporting persons under Section 16 of the Securities Exchange Act of 1934 (Officers). The bonus awards were determined based on the Companys actual performance during the third and fourth quarters of 2005 as measured against pre-established performance objectives. Cash payments of the on-target bonus for the second half of 2005 were as follows:
Executive | Title | Potential Second Half 2005 On-Target Bonus | Actual Second Half | |||||
Radha R. Basu | Chief Executive Officer and President | $ | 121,876 | $ | 68,250 | |||
Brian M. Beattie | Former Chief Financial Officer and Executive Vice President of Finance and Administration | $ | 78,000 | $ | 42,900 | |||
Chris Grejtak | Senior Vice President, Marketing and Corporate Development, Chief Marketing Officer | $ | 48,000 | $ | 24,000 | |||
Cadir B. Lee | Vice President of Products and Technology and Chief Technology Officer | $ | 43,750 | $ | 26,250 | |||
John Van Siclen | Senior Vice President of Worldwide Field Operations | $ | 100,000 | $ | 60,000 |
(b) Adoption of 2006 Cash Bonus Plan
On January 31, 2006, the Compensation Committee approved for the fiscal year ending December 31, 2006 the amount and criteria for the on-target performance cash awards for the CEO and other Officers. The on-target performance cash awards are based on the Companys performance of corporate financial objectives, as measured by bookings, revenue and earnings per share throughout 2006, and the employees performance of individual objectives which relate to various strategic initiatives of the Company. Depending on the individual, the portion of the cash bonus attributable to corporate financial objectives can vary between 50% and 100% of the total potential on-target performance cash award. The Compensation Committee retains discretion to modify the bonuses, or the criteria for the bonuses, that would be payable to an individual. Actual bonuses payable for 2006, if any, will vary depending on the extent to which actual performance meets, exceeds, or falls short of the established financial and individual performance goals for on-target performance for 2006 for each individual. Performance against objectives are measured quarterly, semi-annually, and annually, depending upon the objective. The on-target bonus potential for 2006 is set forth below:
Executive | Title | Potential 2006 On-Target Cash | |||
Radha R. Basu | Chief Executive Officer and President | $ | 243,750 | ||
Ken Owyang | Interim Chief Financial Officer | $ | 88,000 | ||
Chris Grejtak | Senior Vice President, Marketing and Corporate Development, Chief Marketing Officer | $ | 96,000 | ||
Cadir B. Lee | Vice President of Products and Technology and Chief Technology Officer | $ | 100,000 | ||
John Van Siclen | Senior Vice President of Worldwide Field Operations | $ | 200,000 |
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