Websense, Inc. Officer Bonus Term Sheet
This agreement outlines the bonus program for vice presidents of Websense, Inc. who are not part of another incentive plan. Eligible officers can earn an annual bonus equal to 25% of their salary, based on the company's and individual performance goals. Bonuses are paid quarterly and annually, with the total amount ranging from 50% to 150% of the target depending on performance. The company may change the terms of the bonus program at its discretion.
OFFICER’S BONUS TERM SHEET
All vice presidents of Websense, Inc. not covered by another incentive compensation program are generally eligible for an annual target bonus of 25% of their annual salary (“Annual Target”). This bonus is based upon the Company achieving a combination of objective performance goals, including its billings and/or operating profit objectives, along with any other Company or individual performance goals as may be determined by the Compensation Committee.
Bonuses are earned and paid quarterly, based on the achievement of quarterly performance goals. Each officer’s quarterly target bonuses generally cumulate to 80% of the Annual Target, although each quarter’s target bonus may vary as a percentage of the Annual Target. At the end of the fiscal year, an additional target bonus amount generally equal to 20% of the Annual Target may be earned based on the achievement of annual performance goals.
Quarterly and annual bonuses under the plan, if earned, may range from 50% of the target bonus amount (based on non-satisfaction of objectives) to a maximum of 150% of the target bonus amount (based on exceeding objectives).
The Company reserves the right to change the officer bonus terms and/or Term Sheet from time to time as it feels necessary to accomplish its goals, including as a result of market conditions, personnel, new or different product offerings and/or corporate restructuring.
