Preview of our top selling Vice President (VP) Business Development Employment Agreement
InfoSpace - 2006 Infospace Executive VP, Sales And Business Development Compensation Plan
Exhibit 10.32
2006 Executive Vice President,
Sales & Business Development
Compensation Plan
This plan document outlines the 2006 InfoSpace Executive Vice President, Sales & Business Development Compensation Plan (" the Plan" ) for Brian McManus.
PLAN OBJECTIVES ullet Align the compensation of the Executive Vice President, Sales & Business Development (" the EVP" ) with key financial measures that he is responsible for or influences.
ullet Provide the EVP with upside earnings potential based on the overachievement of financial targets. ullet Provide the EVP with a variable pay opportunity and targeted total cash compensation that is competitive within our labor markets. EFFECTIVE DATE
The Plan is effective on January 1, 2006. However, the Plan may be changed at any time at the sole discretion of the Compensation Committee of the Board of Directors.
BASE SALARY
Effective on January 1, 2006, the EVP' s annualized base salary will be $300,000. INCENTIVE COMPENSATION PERFORMANCE PERIODS
The EVP' s incentive compensation described below will be paid semi-annually. The financial performance periods applicable for this plan will be quarterly, but achievement of assigned individual objectives will be determined semi-annually. INCENTIVE COMPENSATION TARGET
The EVP' s total incentive compensation target will be 125% of base salary. The bonus target will be determined at the CEO' s and Compensation Committee' s discretion based on a combination of factors including current-year operating plan challenges and risks, market pay competitiveness, and the past performance of the incumbent. The bonus target will also be set in accordance with the participant' s employment agreement.
PLAN DESIGN
The Plan will have the following incentive compensation components with the associated weightings, measurement periods, payment scales, and achievement percentages:
Bonus Component Weighting Measurement
Period Payment
Period Incentive
Payment Form Incentive Target
Achievement
Revenue 75 % Quarterly Semi-annual Bonus 0% - Uncapped
EBITDA 25 % Quarterly Semi-annual Bonus 0% - 150%
REVENUE BONUS
The EVP will earn a revenue bonus based on his achievement of the targets. Revenue bonus amounts will be calculated and accrued on a quarterly basis, but final revenue payments will be determined and made on a semi-annual basis. The revenue bonus amounts for Q1 & Q2 and for Q3 & Q4 will be added together to form a total semi-annual payment, with the final payment amount dependent upon MBO achievement.
For revenue achievement up to 100% of target, the company' s executive bonus scale on the following page will be used to determine the EVP' s revenue bonus. However, for revenue achievement that is greater that 100%, the EVP will receive additional bonus amounts in accordance with the following schedule:
ullet 100.1% - 125.0% 1/4 cent per $1 of incremental revenue (.25% or .0025)
ullet 125.1% - 150.0% 1/2 cent per $1 of incremental revenue (.50% or .0050)
ullet 150.1%+ 3/4 cent per $1 of incremental revenue (.75% or .0075), uncapped
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2006 EVP, Sales & Business Development Compensation Plan The sum of these overachievement amounts across the different ranges will be added to the target bonus amount to yield the quarterly revenue bonus amount. Here is the revenue bonus scale for achievement up to 100% of target:
Revenue Performance Level Revenue
Performance vs.
Target Revenue Bonus
Achievement
Percentage
Below Threshold 0% - 89% 0 %
Threshold 90% - 94% 50 % 95% - 99% 80 %
Target 100% 100 %
ullet Rounding . Performance results will be rounded up to the nearest whole percentage point. For example, if the calculated performance achievement percentage is 89.1%, it will be rounded up to 90%.
ullet Performance Threshold . There will be no payout for the revenue bonus component if the financial target is not at least 90% achieved. The quarterly revenue bonus for performance up to 100% of target will be equal to:
Revenue Bonus Achievement Percentage x Annual
Base
Salary f74 x...
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