2006 Section 16 Officer Bonus Plan for Jerry Chase and Mark Richman
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Summary
This agreement outlines the 2006 bonus plan for Section 16 officers Jerry Chase and Mark Richman. The plan sets target bonus amounts of $300,000 for Chase and $225,000 for Richman, with payments based on achieving specific annual goals. Half of each bonus is tied to reaching a revenue target of $61 million, and the other half to achieving an EBITDA of negative $7.2 million. Each goal is measured independently at year end, and meeting both targets results in full bonus payment.
EX-10.35 9 f25367exv10w35.htm EXHIBIT 10.35 exv10w35
Exhibit 10.35
2006 SECTION 16 OFFICER BONUS PLAN
Section 16 Officer Plan for Calendar Year 2006
Plan Design
| • | Payment Eligibility |
| – | The goals must be met in order to be eligible for Bonus payment | ||
| – | Each Goal is measured independently |
| • | Timing |
| – | Annual plan |
| • | All components measured at year end |
| • | Bonus Potential: |
| • | Jerry Chase – Target Bonus = $300,000 | ||
| • | Mark Richman – Target Bonus = $225,000 |
| • | Goals: |
| % of Bonus Tied to | ||||||||
| 2006 | At Target | this Goal | ||||||
Revenue | $ | 61M | 50 | % | ||||
EBITDA | ($ | 7.2M | ) | 50 | % | |||
| results in 100% bonus payment | ||||||||
