{"id":38261,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/1997-chief-executive-officer-compensation-plan-veritas-software.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"1997-chief-executive-officer-compensation-plan-veritas-software","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/1997-chief-executive-officer-compensation-plan-veritas-software.html","title":{"rendered":"1997 Chief Executive Officer Compensation Plan &#8211; VERITAS Software Corp."},"content":{"rendered":"<pre>\nVERITAS 1997 CHIEF EXECUTIVE OFFICER COMPENSATION PLAN\n\nThe 1997 CEO Annual Compensation Plan shall consist of two components, as\nfollows:\n\nCOMPONENT                           AMOUNT         PAID\nBase Salary                                        Regular payroll\nEPS Bonus                                          Annually\n\nBASE SALARY\n\nThe Base Salary will be earned on a weekly basis. Additionally, the base salary\nshall be the basis for calculating life and disability benefits (and any other\nsuch benefits which are base salary driven) which shall be provided consistent\nwith the standard company benefits policy.\n\nEPS BONUS\n\nThe EPS Bonus shall be earned by achieving the earnings per share specified in\nthe approved operating plan. An earnings per share achievement below 70% of plan\nshall not earn any bonus, and at 70% shall earn 50% of bonus. Achievement of\n100% of the earnings per share shall earn 100% of the bonus, with any\nintermediate achievement between 70% and 100% earning a proportional amount of\nthe bonus. At an earnings per share of 130% of plan 150% of bonus will be\nearned, with any intermediate achievement between 100% and 130% earning a\nproportional amount. In the event that the board of directors approves a mid\nyear update, than the annual earnings per share objective shall be the sum of\nthe first two quarters as specified in the original plan, and the second two\nquarters as specified in the mid-year update.\n\nPAYMENTS\n\nThe compensation committee of the board of directors shall be responsible for\nassessing and awarding payment for the EPS Bonus. In order to be eligible to\nreceive the bonus, the individual must be employed by Veritas at the time of\npayment. Bonus payments shall be made not later than January 31, 1998.\n\nDISCRETION OF THE BOARD OF DIRECTORS\n\nNotwithstanding the above, the Company's board of directors, at its sole\ndiscretion, may, for reasonable cause, modify or change this Plan or its\nimplementation at any time.\n\n-------------------     ---------   ---------------------   ---------\nfor Veritas                Date         Mark Leslie            Date\n\n\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[9244],"corporate_contracts_industries":[9513],"corporate_contracts_types":[9539,9544],"class_list":["post-38261","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-veritas-software-corp","corporate_contracts_industries-technology__software","corporate_contracts_types-compensation","corporate_contracts_types-compensation__employment"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/38261","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=38261"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=38261"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=38261"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=38261"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}