Veramark Technologies, Inc. www.veramark.com Corporate: 3750 Monroe Avenue Pittsford, NY 14534 Tel: 585 ###-###-#### Fax: 585 ###-###-####
EX-10.1 2 c97434exv10w1.htm EXHIBIT 10.1 Exhibit 10.1 Exhibit 10.1
Veramark Technologies, Inc.
2010 Incentive Plan for Anthony C. Mazzullo
Incentives will be based on a weighted point system using three (3) target measures, as follows:
Restricted Stock Bonus
| | • | | Total at target including rollover 133,333 shares |
| | • | | Restricted shares will be earned based on the weighted point system as follows: |
| | • | | Orders, 40%: 53,333 shares at target |
| | • | | Revenue, 50%: 66,667 shares at target |
| | • | | Net Income, 10%: 13,333 shares at target |
| | • | | Restricted shares begin to be earned pro-rata when 85% of a target is achieved. |
Cash Bonus
| | • | | Total at target: $60,000 |
| | • | | Bonus amounts will be based on a weighted point system as follows: |
| | • | | Orders, 40%: $24,000 at target |
| | • | | Revenue, 50%: $30,000 at target |
| | • | | Net Income, 10%: $6,000 at target |
| | • | | Cash bonus amounts begin to be earned pro-rata when 85% of a target is achieved. |
Additional Cash Bonus for Exceeding a Target
| | • | | Additional cash bonus for exceeding plan will be based on a weighted point system of each target as follows: |
| | • | | Achieve 110% of target on a target, add additional weighted share of $20,000 cash bonus (Orders: $8,000, Revenue: $10,000, Net Income: $2,000) |
| | • | | Achieve 120% of target on a target, add additional weighted share of $20,000 cash bonus (Orders: $8,000, Revenue: $10,000, Net Income: $2,000) |
| | • | | Achieve 130% of target on a target, add additional weighted share of $20,000 cash bonus (Orders: $8,000, Revenue: $10,000, Net Income: $2,000) |
| | • | | Additional cash bonuses will not be pro-rated |
Veramark Technologies, Inc. ž www.veramark.com
Corporate: 3750 Monroe Avenue ž Pittsford, NY 14534 ž Tel: 585 ###-###-#### ž Fax: 585 ###-###-####
