{"id":38716,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/corporate-bonus-plan-concur-technologies-inc.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"corporate-bonus-plan-concur-technologies-inc","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/corporate-bonus-plan-concur-technologies-inc.html","title":{"rendered":"Corporate Bonus Plan – Concur Technologies Inc."},"content":{"rendered":"

Concur Technologies, Inc. <\/strong><\/p>\n

Fiscal 2011 Corporate Bonus Plan <\/strong><\/p>\n

This Fiscal 2011 Corporate Bonus Plan applies to all employees of Concur
\nTechnologies, Inc. (“Concur<\/em><\/strong>“), other than employees
\ncompensated under commission plans, for fiscal 2011:<\/p>\n\n\n\n
\n

1.<\/p>\n<\/td>\n

\n

Bonuses are earned under this Fiscal 2011 Corporate Bonus Plan if Concur
\nachieves a target level of fiscal 2011 non-GAAP pre-tax earnings, as determined
\nby the Compensation Committee of the Board of Directors (the
\n“Corporate Bonus Plan Target<\/em><\/strong>“). Bonuses for each
\nemployee shall be paid in an amount equal to the percentage of the employee153s
\nbase salary selected by the Chief Executive Officer, provided that the bonus
\namount for executive officers of Concur subject to Section 16 of the Securities
\nExchange Act of 1934 (“Section 16 Officers<\/em><\/strong>“), shall be
\nas follows:<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Section 16 Officer<\/strong><\/p>\n<\/td>\n

<\/td>\n\n

Target Cash Bonus<\/strong><\/p>\n<\/td>\n<\/tr>\n

\n

S. Steven Singh, Chief Executive Officer and Chairman of the Board of
\nDirectors<\/p>\n<\/td>\n

<\/td>\n\n

US$600,000<\/p>\n<\/td>\n<\/tr>\n

\n

Rajeev Singh, President, Chief Operating Officer, and Director<\/p>\n<\/td>\n

<\/td>\n\n

US$550,000<\/p>\n<\/td>\n<\/tr>\n

\n

Frank Pelzer, Chief Financial Officer<\/p>\n<\/td>\n

<\/td>\n\n

US$350,000<\/p>\n<\/td>\n<\/tr>\n

\n

Kyle R. Sugamele, Chief Legal Officer<\/p>\n<\/td>\n

<\/td>\n\n

US$165,000<\/p>\n<\/td>\n<\/tr>\n

\n

John Torrey, Executive Vice President of Corporate Development<\/p>\n<\/td>\n

<\/td>\n\n

US$275,000<\/p>\n<\/td>\n<\/tr>\n

\n

Robert Cavanaugh, Executive Vice President and General Manager, North America\n<\/p>\n<\/td>\n

<\/td>\n\n

US$234,000<\/p>\n<\/td>\n<\/tr>\n

\n

Michael Eberhard, Executive Vice President and General Manager, Asia Pacific\n<\/p>\n<\/td>\n

<\/td>\n\n

US$190,832<\/p>\n<\/td>\n<\/tr>\n

\n

Barry Padgett, Executive Vice President and General Manager, Europe<\/p>\n<\/td>\n

<\/td>\n\n

US$150,000<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
\n

2.<\/p>\n<\/td>\n

\n

The target cash bonus is earned and payable if Concur achieves the Corporate
\nBonus Plan Target.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
\n

3.<\/p>\n<\/td>\n

\n

For each 1% that actual fiscal 2011 non-GAAP pre-tax earnings exceed the
\nCorporate Bonus Plan Target, the cash bonus of each eligible employee will be
\nincreased, on a pro-rata basis, by 2.5% up to a maximum of 200% of such
\nemployee153s target cash bonus at 100% achievement of the Corporate Bonus Plan
\nTarget.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
\n

4.<\/p>\n<\/td>\n

\n

If actual fiscal 2011 non-GAAP pre-tax earnings, including a charge for the
\nfull amount of the target cash bonus, are less than 100% of the Corporate Bonus
\nPlan Target, then cash bonuses under the 2011 Corporate Bonus Plan will be paid,
\nbut reduced on a pro-rata basis for all eligible employees such that actual
\nfiscal 2011 non-GAAP pre-tax earnings equals the Corporate Bonus Plan Target, as
\ndetermined by the Compensation Committee of the Board of Directors.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
\n

5.<\/p>\n<\/td>\n

\n

The amount of cash bonus payable to each eligible employee can be increased
\nor reduced at the discretion of the Chief Executive Officer (but, for Section 16
\nOfficers, the amount of cash bonus payable can only be reduced, as determined by
\nthe Compensation Committee of the Board of Directors). To the extent that the
\namount of cash bonuses payable to a given Section 16 Officer is reduced, such
\nreduction will not increase the amount of cash bonus that would otherwise be
\npaid to the remaining Section 16 Officers.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
\n

6.<\/p>\n<\/td>\n

\n

Non-GAAP pre-tax earnings consists of Concur153s GAAP pre-tax earnings for
\nfiscal 2011 adjusted to eliminate share-based compensation expenses,
\namortization of acquired intangible assets, the accretion of discount on senior
\nconvertible notes, and income tax expense. In addition, to the extent the
\nCompany enters into Board-approved transactions that are not contemplated in the
\nassumptions underlying the Company153s 2011 operating plan, or to the extent that
\ncertain expenses or losses beyond the control of management are incurred, then
\nit is the intent of the Compensation Committee of the Board of Directors that
\nfor purposes of evaluating performance against the Corporate Bonus Plan Target,
\nthe financial impact of any such transaction or event occurring in fiscal 2011
\nshall be excluded from the calculation of non-GAAP pre-tax earnings (provided
\nthat, with respect to bonus awards intended to qualify under Internal Revenue
\nCode Section 162(m), such adjustment<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\n\n\n\n
<\/td>\n\n

shall only be to the extent permitted by such section without making such
\nbonus award non-deductible). For such transactions or events, the financial
\nimpact to be excluded from the calculation of non-GAAP pre-tax earnings, and the
\nspecific method by which the associated financial impact will be calculated,
\ninclude without limitation the following:<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
<\/td>\n\n

a.<\/p>\n<\/td>\n

\n

One-time expenses (as defined in the Company153s accounting policies and
\nprocedures for acquisition-related expenses) associated with acquisitions;<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
<\/td>\n\n

b.<\/p>\n<\/td>\n

\n

Additional shares issued in conjunction with an acquisition (which will be
\nexcluded from diluted shares outstanding) and the operating results of an
\nacquisition (positive or negative);<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
<\/td>\n\n

c.<\/p>\n<\/td>\n

\n

The earnings impact associated with contingent consideration offered in an
\nacquisition;<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
<\/td>\n\n

d.<\/p>\n<\/td>\n

\n

The dilutive effect from any contingent consideration associated with
\nacquisitions (which will be excluded from diluted shares outstanding);<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
<\/td>\n\n

e.<\/p>\n<\/td>\n

\n

The financial results from strategic investments (including any shares of
\nCompany stock issued);<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
<\/td>\n\n

f.<\/p>\n<\/td>\n

\n

Any reduction in earnings available to common shareholders resulting from the
\namount by which the settlement price on options for shares of a joint venture
\nheld by third parties exceeds the related fair value;<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
<\/td>\n\n

g.<\/p>\n<\/td>\n

\n

Additional shares from equity financing (which will be excluded from the
\ndiluted shares outstanding), excluding stock issued in conjunction with stock
\nbased compensation plans and employee stock purchase program;<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
<\/td>\n\n

h.<\/p>\n<\/td>\n

\n

Interest expense associated with debt financing, off-set by any interest
\nearned on proceeds;<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
<\/td>\n\n

i.<\/p>\n<\/td>\n

\n

The financial impact associated with any divestitures or sales of assets
\nwhether tangible or intangible;<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
<\/td>\n\n

j.<\/p>\n<\/td>\n

\n

Any impairment or loss of assets resulting from a change in Company strategy
\nor other extraordinary events beyond the control of the Company such as a
\nnatural disaster, act of terrorism, or war;<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
<\/td>\n\n

k.<\/p>\n<\/td>\n

\n

Impairment of goodwill;<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
<\/td>\n\n

l.<\/p>\n<\/td>\n

\n

The financial impact of actual legal settlements or accruals for legal
\nsettlements for which the Board concludes that the Company was not culpable but
\nit was in the Company153s best interests to settle;<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
<\/td>\n\n

m.<\/p>\n<\/td>\n

\n

The financial impact of any discontinued operations; and<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
<\/td>\n\n

n.<\/p>\n<\/td>\n

\n

Any new fees, taxes or expenses incurred to comply with new laws and
\nregulations.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
\n

7.<\/p>\n<\/td>\n

\n

Only persons employed by Concur prior to July 1, 2011, and continuing such
\nemployment through the end of fiscal 2011 and the date of bonus payment, are
\neligible to receive bonuses under this plan, pro rata to their service during
\nfiscal 2011.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
\n

8.<\/p>\n<\/td>\n

\n

This Fiscal 2011 Corporate Bonus Plan shall be subject to the terms of
\nConcur153s 2010 Cash Incentive Plan.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/p>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[7179],"corporate_contracts_industries":[9513],"corporate_contracts_types":[9539,9546],"class_list":["post-38716","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-concur-technologies-inc","corporate_contracts_industries-technology__software","corporate_contracts_types-compensation","corporate_contracts_types-compensation__incentive"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/38716","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=38716"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=38716"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=38716"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=38716"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}