Fiscal 2009 Compensation Plan Agreement for Raj Rajgopal
This agreement outlines the compensation plan for Raj Rajgopal for fiscal year 2009. Rajgopal will receive an annual base salary of $250,000 and is eligible for an annual bonus with a target of $150,000. The bonus is based on revenue, contribution margin, and management objectives, each weighted equally. Bonus payouts depend on performance against set financial targets for the first and second halves of the fiscal year. The plan was approved by the company's CEO and accepted by Rajgopal.
Exhibit 10.4
Fiscal 2009 Compensation Plan for Raj Rajgopal
| Annual base pay |
| $ | 250,000 |
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| Variable payout |
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| Annual bonus target |
| $ | 150,000 |
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| Bonus payout weighting: |
| Revenue |
| 33.3 | % |
| 1H |
| 2H |
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| Contribution margin |
| 33.3 | % |
| 40 | % | 60 | % | |||
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| MBO |
| 33.3 | % |
| $ | 60,000 |
| $ | 90,000 |
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Full Fiscal Year Plan
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| Revenue $000 |
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| CM $000 |
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| Range |
| % plan |
| % bonus |
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| Range |
| % plan |
| % bonus |
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| ****** |
| 105 | % | 110 | % |
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| ****** |
| 105 | % | 110 | % |
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| ****** |
| 104 | % | 108 | % |
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| ****** |
| 104 | % | 108 | % |
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| ****** |
| 103 | % | 106 | % |
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| ****** |
| 103 | % | 106 | % |
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| ****** |
| 102 | % | 104 | % |
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| ****** |
| 102 | % | 104 | % |
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| ****** |
| 101 | % | 102 | % |
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| ****** |
| 101 | % | 102 | % |
| Plan |
| ****** |
| 100 | % | 100 | % | Plan |
| ****** |
| 100 | % | 100 | % |
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| ****** |
| 99 | % | 98 | % |
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| ****** |
| 98 | % | 96 | % |
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| ****** |
| 98 | % | 96 | % |
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| ****** |
| 96 | % | 92 | % |
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| ****** |
| 97 | % | 94 | % |
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| ****** |
| 94 | % | 88 | % |
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| ****** |
| 96 | % | 92 | % |
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| ****** |
| 92 | % | 84 | % |
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| ****** |
| 95 | % | 90 | % |
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| ****** |
| 90 | % | 80 | % |
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| 1st Half Fiscal Year Plan | |||||||||||||||
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| Revenue $000 |
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| CM $000 |
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| Range |
| % plan |
| % bonus |
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| Range |
| % plan |
| % bonus |
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| ****** |
| 105 | % | 110 | % |
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| ****** |
| 105 | % | 110 | % |
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| ****** |
| 104 | % | 108 | % |
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| ****** |
| 104 | % | 108 | % |
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| ****** |
| 103 | % | 106 | % |
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| ****** |
| 103 | % | 106 | % |
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| ****** |
| 102 | % | 104 | % |
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| ****** |
| 102 | % | 104 | % |
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| ****** |
| 101 | % | 102 | % |
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| ****** |
| 101 | % | 102 | % |
| Plan |
| ****** |
| 47 | % | 100 | % | Plan |
| ****** |
| 100 | % | 100 | % |
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| ****** |
| 99 | % | 98 | % |
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| ****** |
| 98 | % | 96 | % |
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| ****** |
| 98 | % | 96 | % |
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| ****** |
| 96 | % | 92 | % |
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| ****** |
| 97 | % | 94 | % |
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| ****** |
| 94 | % | 88 | % |
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| ****** |
| 96 | % | 92 | % |
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| ****** |
| 92 | % | 84 | % |
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| ****** |
| 95 | % | 90 | % |
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| ****** |
| 90 | % | 80 | % |
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| ****** |
| Confidential |
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Variable @ 100% acievement
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| MBO |
| Rev |
| CM |
| Total |
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| 1st half |
| $ | 20,000 |
| $ | 20,000 |
| $ | 20,000 |
| $ | 60,000 |
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| 2nd half |
| $ | 30,000 |
| $ | 30,000 |
| $ | 30,000 |
| $ | 90,000 |
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| $ | 50,000 |
| $ | 50,000 |
| $ | 50,000 |
| $ | 150,000 |
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1st half paid based on % achievement of 1H Plan
2nd half paid based on % achievement of FY09 plan less 1st half actual bonus, but not less than 0
| Approved by: |
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| /s/ Kris Canekeratne |
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| Kris Canekeratne, CEO |
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| Accepted by: |
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| /s/ Raj Rajgopal |
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| Raj Rajgopal |
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