Performance Bonus Plan Sample Contracts

Accuray Inc – Performance Bonus Plan As amended by the Board of Directors on September 29, 2015 (November 5th, 2015)
Broadcom Corp – Summary of Amendment to Performance Bonus Plan (July 30th, 2015)

On May 27, 2015, the Compensation Committee of the Board of Directors of Broadcom Corporation (the “Company”) approved an amendment to the Company’s Performance Bonus Plan to provide that with respect to the annual performance period in effect at the time of the closing of the Transactions (as defined in the Agreement and Plan of Merger by and among the Company and Avago Technologies Limited and certain of its subsidiaries), achievement of the performance goals will be measured as of the closing of the Transactions and the following executives will receive a pro rata cash payment at the closing based on such actual performance and partial annual performance period: Scott A. McGregor, President and Chief Executive Officer; Eric K. Brandt, Executive Vice President and Chief Financial Officer; Daniel A. Marotta, Executive Vice President and General Manager, Broadband and Connectivity Group; and Rajiv Ramaswami, Ph.D., Executive Vice President and General Manager, Infrastructure and Networ

Cardica Inc – Cardica, Inc. EXECUTIVE PERFORMANCE BONUS PLAN (July 24th, 2015)

The Cardica, Inc. Executive Performance Bonus Plan (the “Plan”) is intended to motivate senior executives to achieve short-term and long-term corporate objectives by providing a competitive bonus for target performance and the appropriate upside opportunity to reward outstanding performance.

Diplomat Pharmacy, Inc. – Diplomat Pharmacy, Inc. Annual Performance Bonus Plan (Effective January 1, 2015) (June 9th, 2015)
Westell Technologies Inc – Your annual starting salary for this position will be $265,000 (Base Salary), which is equivalent to $10,192.31 per pay period, plus a variable incentive target of $215,000. Variable compensation is paid monthly subject to the terms and conditions of the Company’s Sales Incentive Plan for Fiscal Year 2016. A copy of the Sales Incentive Plan is attached hereto for your convenience. Eligibility for the Sales Incentive Plan will begin immediately upon your hire date. Any payouts will be pro-rated based on your start date within the fiscal year. The fiscal year began on April 1, 2015 and ends Marc (May 22nd, 2015)
ITC Holdings Corp. – Summary of Annual Corporate Performance Bonus Plan for Executives (as of February 2015) (April 30th, 2015)

The annual bonus plan performance goals are individually weighted as set forth below. If all goals are achieved, executives will receive 200% of their target bonus amount. The annual bonus plan consists of three primary measurement categories relating to Company operations: Safety & Compliance, System Performance, and Financial. Each goal operates independently, such that payout will occur with respect to those goals for which the related numerical targets have been achieved even though the numerical targets relating to one or more other goals may not be achieved. There is no payout on any goal for which the related numerical target is not achieved. The goals, numerical targets relating to each goal, and a description of any adjustments to be made in determining whether the goal has been achieved, are established annually upon approval by the Compensation Committee. Goals and payout weighting approved for 2015 are as follows:

Collegium Pharmaceutical, Inc – COLLEGIUM PHARMACEUTICAL, INC. PERFORMANCE BONUS PLAN (April 27th, 2015)
Bojangles', Inc. – BOJANGLES’, INC, PERFORMANCE BONUS PLAN (April 27th, 2015)
Homeaway Inc – 2015 Executive Officer Performance Bonus Plan (April 23rd, 2015)

The purpose of the HomeAway 2015 Executive Officer Performance Bonus Plan (the “Plan”) is to motivate exceptional performance by the executive officers of HomeAway U.S. (the “Company”) throughout the year by rewarding the achievement of pre-established business performance objectives. The Plan is to be administered by the Compensation Committee of the Board of Directors of the Company (the “Committee”).

Majesco – MAJESCO PERFORMANCE BONUS PLAN (April 1st, 2015)
Samson Resources Corp – SAMSON RESOURCES CORPORATION 2015 PERFORMANCE BONUS PLAN (March 31st, 2015)
CombiMatrix Corp – COMBIMATRIX CORPORATION 2015 EXECUTIVE PERFORMANCE BONUS PLAN (March 5th, 2015)

Pursuant to the authority granted under CombiMatrix Corporation Compensation Committee Charter, the Compensation Committee (the “Committee”) of CombiMatrix Corporation (the “Company” or “our”) has adopted this 2015 Executive Performance Bonus Plan (the “Plan”) effective as of January 1, 2015.  The purpose of this Plan is to motivate executives to achieve the Company’s objectives and to minimize turnover for participants.  The Plan is intended to permit the payment of bonuses that qualify as performance-based compensation under Internal Revenue Code Section 162(m).

Intel Corp – INTEL CORPORATION 2014 Annual Performance Bonus Plan (Amended and Restated effective January 1, 2014) (February 13th, 2015)
Blue Nile Inc – BLUE NILE, INC. PERFORMANCE BONUS PLAN EXECUTIVE CASH BONUS PLAN FOR FISCAL YEAR 2015 (February 10th, 2015)

This Bonus Plan operates under, and is subject to the terms of, the Blue Nile’s 2013 Equity Incentive Plan (the “Plan”). The Plan was approved by Blue Nile’s Board of Directors and Blue Nile’s stockholders. Any capitalized terms not defined in this Bonus Plan have the meaning set forth in the Plan.

Avago Technologies LTD – Fiscal Year 2015 Avago Performance Bonus Plan For Executive Employees (December 10th, 2014)

The purpose and scope of the Avago Performance Bonus (“APB”) Plan Document for Executive Employees is to define the process to award the annual incentive bonus and to ensure the Plan parameters are managed consistently across Avago Technologies (the “Company”).

Accuray Inc – Performance Bonus Plan As amended by the Board of Directors on August 27, 2014 (November 7th, 2014)
Westell Technologies Inc – September 16, 2014 Mark Skurla Dear Mark, I am very pleased to offer you the position of Senior Vice President, Worldwide Sales for Westell Technologies, Inc. (the “Company”), reporting to me. Your starting salary for this position will be $10,000 per pay period (equivalent to $260,000 annually), plus a variable compensation target of $156,000. Variable compensation is paid annually subject to the terms and conditions of the Westell Technologies, Inc. and Subsidiaries Performance Bonus Plan, Consolidated Company Plan, FY2015 (“Bonus Plan”). Eligibility for the Bonus Plan will begin immediately (October 31st, 2014)
Broadcom Corp – PERFORMANCE BONUS PLAN (as amended and restated October 19, 2014) (October 21st, 2014)

In addition, a full or pro-rated bonus shall be paid to any participant whose Employee status terminates under circumstances that entitle that individual to such a full or pro-rata bonus for the applicable Plan Year pursuant to the express terms of any agreement or arrangement to which that individual and the Company are parties. Any bonus that remains payable to a participant following such participant’s termination of Employee status in accordance with this Section III.B shall be payable to such participant (or such participant’s estate) at such time as bonuses are paid generally to plan participants for the relevant Plan Year, but in any event, no later than March 15th of the year following the relevant Plan Year.

Virobay Inc – 2015 Management Performance Bonus Plan Purpose: (October 6th, 2014)

The Virobay, Inc. (the “Company”) 2015 Management Performance Bonus Plan (the “Plan”) is applicable to our Named Executive Officers (as defined in Item 402(a)(3) of Regulation S-K promulgated by the Securities and Exchange Commission) and certain other officers and employees as determined by the Board of Directors (the “Board”). The Plan is designed to reward the participants for assisting the Company in achieving its operational goals through exemplary performance. The overarching intent in setting and achieving the goals is to build long-term stockholder value.

Travelport Worldwide LTD – TRAVELPORT WORLDWIDE LIMITED ANNUAL PERFORMANCE BONUS PLAN (September 11th, 2014)
Virobay Inc – 2014 Management Performance Bonus Plan Purpose: (September 10th, 2014)

The Virobay, Inc. (the “Company”) 2014 Management Performance Bonus Plan (the “Plan”) is applicable to our Named Executive Officers (as defined in Item 402(a)(3) of Regulation S-K promulgated by the Securities and Exchange Commission) and certain other officers as determined by the Board of Directors (the “Board”). The Plan is designed to reward the participants for assisting the Company in achieving its operational goals through exemplary performance. The overarching intent in setting and achieving the goals is to build long-term stockholder value.

Virobay Inc – 2013 Management Performance Bonus Plan Purpose: (September 10th, 2014)

The Virobay, Inc. (the “Company”) 2013 Management Performance Bonus Plan (the “Plan”) is applicable to our Named Executive Officers (as defined in Item 402(a)(3) of Regulation S-K promulgated by the Securities and Exchange Commission) and certain other officers as determined by the Board of Directors (the “Board”). The Plan is designed to reward the participants for assisting the Company in achieving its operational goals through exemplary performance. The overarching intent in setting and achieving the goals is to build long-term stockholder value.

Homeaway Inc – 2014 Executive Officer Performance Bonus Plan (May 2nd, 2014)

The purpose of the HomeAway 2014 Executive Officer Performance Bonus Plan (the “Plan”) is to motivate exceptional performance by the executive officers of HomeAway U.S. (the “Company”) throughout the year by rewarding the achievement of pre-established business performance objectives. The Plan is to be administered by the Compensation Committee of the Board of Directors of the Company (the “Committee”).

Iridium Communications Inc. – Iridium Communications Inc. 2014 EXECUTIVE PERFORMANCE BONUS PLAN (May 1st, 2014)
ITC Holdings Corp. – Summary of Annual Corporate Performance Bonus Plan for Executives (as of February 2014) (May 1st, 2014)

The annual bonus plan performance goals are individually weighted as set forth below. If all goals are achieved, executives will receive 200% of their target bonus amount. The annual bonus plan consists of three primary measurement categories relating to Company operations: Safety & Compliance, System Performance, and Financial. Each goal operates independently, such that payout will occur with respect to those goals for which the related numerical targets have been achieved even though the numerical targets relating to one or more other goals may not be achieved. There is no payout on any goal for which the related numerical target is not achieved. The goals, numerical targets relating to each goal, and a description of any adjustments to be made in determining whether the goal has been achieved, are established annually upon approval by the Compensation Committee. Goals and payout weighting approved for 2014 are as follows:

Blue Nile Inc – BLUE NILE, INC. PERFORMANCE BONUS PLAN EXECUTIVE CASH BONUS PLAN FOR FISCAL YEAR 2014 (March 26th, 2014)

This Bonus Plan operates under, and is subject to the terms of, the Blue Nile, Inc. Performance Bonus Plan. The Performance Bonus Plan was approved by Blue Nile’s Board of Directors and Blue Nile’s stockholders. Any capitalized terms not defined in this Bonus Plan have the meaning set forth in the Performance Bonus Plan.

CombiMatrix Corp – 2014 EXECUTIVE PERFORMANCE BONUS PLAN (March 10th, 2014)

Pursuant to the authority granted under CombiMatrix Corporation Compensation Committee Charter, the Compensation Committee (the “Committee”) of CombiMatrix Corporation (the “Company” or “our”) has adopted this 2014 Executive Performance Bonus Plan (the “Plan”) effective as of January 1, 2014.  The purpose of this Plan is to motivate executives to achieve the Company’s objectives and to minimize turnover for participants.  The Plan is intended to permit the payment of bonuses that qualify as performance-based compensation under Internal Revenue Code Section 162(m).

Pacer International Inc – PACER INTERNATIONAL, INC. 2014 PERFORMANCE BONUS PLAN (February 26th, 2014)

The Pacer International, Inc., 2014 Performance Bonus Plan (the “Bonus Plan”) is a performance incentive plan providing compensation payments that are contingent upon achieving pre-determined performance objectives or criteria with respect to the 2014 fiscal year period of Pacer International, Inc. (“Pacer International”), and its subsidiaries (collectively with Pacer International, the “Company”). The Bonus Plan does not include payment or provision for salary increases (whether based on merit or otherwise), profit-sharing, savings or retirement plans, or recognition awards.

CombiMatrix Corp – 2014 EXECUTIVE PERFORMANCE BONUS PLAN (February 24th, 2014)

Pursuant to the authority granted under CombiMatrix Corporation Compensation Committee Charter, the Compensation Committee (the “Committee”) of CombiMatrix Corporation (the “Company” or “our”) has adopted this 2014 Executive Performance Bonus Plan (the “Plan”) effective as of January 1, 2014.  The purpose of this Plan is to motivate executives to achieve the Company’s objectives and to minimize turnover for participants.  The Plan is intended to permit the payment of bonuses that qualify as performance-based compensation under Internal Revenue Code Section 162(m).

Intel Corp – INTEL CORPORATION 2014 Annual Performance Bonus Plan (February 14th, 2014)
Avago Technologies LTD – Fiscal Year 2014 Avago Performance Bonus Plan For Executive Employees (December 12th, 2013)

The purpose and scope of the Avago Performance Bonus (“APB”) Plan Document for Executive Employees is to define the process to award the annual incentive bonus and to ensure the Plan parameters are managed consistently across Avago Technologies (the “Company”).

ARAMARK Holdings Corp – AMENDED AND RESTATED ARAMARK HOLDINGS CORPORATION SENIOR EXECUTIVE PERFORMANCE BONUS PLAN (November 19th, 2013)
Aeroflex Holding Corp. – 2013 PERFORMANCE BONUS PLAN (November 18th, 2013)
Tetralogic Pharmaceuticals Corp – TETRALOGIC PHARMACEUTICALS CORPORATION PERFORMANCE BONUS PLAN (November 6th, 2013)
Seagate Technology Plc – SEAGATE TECHNOLOGY PLC EXECUTIVE OFFICER PERFORMANCE BONUS PLAN As Amended and Restated Effective as of July 23, 2013 (November 4th, 2013)

The objectives of the Seagate Technology plc Executive Officer Performance Bonus Plan (the “EOPB”) are to motivate and reward the Company’s executive officers to produce results that increase shareholder value and to encourage individual and team behavior that helps the Company achieve both short and long-term corporate objectives.  The EOPB was previously amended and restated effective as of June 28, 2008.