Attached files
file | filename |
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EX-10.8 - EMPLOYEE AGREEMENT AMENDMENT - TRAVIS WHITTON - SharpSpring, Inc. | shsp_ex10-8.htm |
EX-10.2 - EMPLOYEE AGREEMENT AMENDMENT - RICHARD CARLSON - SharpSpring, Inc. | shsp_ex10-2.htm |
8-K - CURRENT REPORT - SharpSpring, Inc. | shsp-20211231.htm |
Exhibit 10.1
Appendix D
2021
Executive Bonus Plan
1.
Bonus plan for
executive officers:
a.
Designed to incent
performance
b.
Paid
quarterly
1.
Quarterly payment
is limited to a maximum of 100% of the quarterly amount and is
trued up at year end including clawback, as needed
2.
True up - if over
of 100% annually, payment for over achievement is at
year-end
c.
Bonus payment is
capped at 150% maximum
d.
Breakout for
financial performance components
1.
Purpose is to drive
performance on targeted goals
2.
Components
a.
80% based on Net
Revenue
b.
20% based on
EBITDA
c.
Goal is based on
approved board budget after adjusting for salary, bonus, and any
related expense resulting from the approval of other items during
this meeting
d.
Payout percentages
shall be based on the following formula:
i.
Calculate actual
Net Revenue attainment vs. goal as a percentage (item
i);
ii.
Calculate actual
EBITDA attainment vs. goal as a percentage (item ii);
iii.
If the result of
either item (i) or (ii) is less than 85%, that discrete item shall
pay 0%, and the remaining item shall be paid discretely based the
formula starting in step (v) below;
iv.
If both items (i)
and (ii) are over 85%, then weighted average the result of items
(i) and (ii) above (result is item iii);
v.
If the result of
item (iii) is less than 90%, payout shall be 0%;
vi.
At 90%,
participants will earn 90% of the eligible bonus; and for each
percentage over 90% but less than 100%, the payout will increase by
1.00%;
vii.
For each percentage
over 100% but less than 120%, the payout will increase by
2.50%