Attached files
| file | filename |
|---|---|
| 10-K - FORM 10-K - VERINT SYSTEMS INC | c00977e10vk.htm |
| EX-32.1 - EXHIBIT 32.1 - VERINT SYSTEMS INC | c00977exv32w1.htm |
| EX-31.1 - EXHIBIT 31.1 - VERINT SYSTEMS INC | c00977exv31w1.htm |
| EX-32.2 - EXHIBIT 32.2 - VERINT SYSTEMS INC | c00977exv32w2.htm |
| EX-21.1 - EXHIBIT 21.1 - VERINT SYSTEMS INC | c00977exv21w1.htm |
| EX-31.2 - EXHIBIT 31.2 - VERINT SYSTEMS INC | c00977exv31w2.htm |
Exhibit 10.46
Summary of the Terms of Verint Systems Inc. Executive Officer Annual Bonus Plan
Verint Systems Inc. (the “Company”) maintains an annual bonus program (the
“AIP”) for its executive officers. Under the AIP, each executive officer is eligible to
receive an annual cash bonus upon the satisfaction of pre-determined performance goals. The target
bonus under the AIP is established annually by the Compensation Committee of the Company’s Board of
Directors (the “Committee”) as part of the Committee’s regular compensation review process
and is paid upon certification by the Committee of the achievement of the underlying performance
goals. In establishing target bonuses, in addition to the factors considered as part of the
compensation review process generally, the Committee also considers the target bonus set forth in
the executive officer’s employment agreement (if applicable), as well as special achievements,
promotions, and other facts and circumstances specific to the individual officer.
The performance goals under the AIP are based on revenue, a measure of profitability, and a
measure of cash generation (e.g., days sales outstanding) and expressed on a non-GAAP basis. In the
case of executive officers with responsibility for a specific operating unit, unit revenue and unit
profitability goals (contribution margin) are also incorporated into the executive officer’s
performance goals. In addition to company-wide performance goals (or if applicable, unit-based
goals) a portion of the target bonus may also be tied to the achievement of non-financial
management business objectives (MBOs) approved by the Committee. The financial performance goals
established by the Committee generally come in the form of a range, wherein the executive officer
may achieve a percentage of his or her target bonus (generally 50-75%) at the low end of the
performance range (or threshold), 100% of his target bonus towards the middle of the performance
range (target performance), and up to 200% of his target bonus at the high end of the performance
range.