Exhibit 10.11
[***] Indicates that information has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.
ADDENDUM 1: Amendment to Corporate Performance Goals
9/27/2010
On August 11, 2010, the Board of Directors approved the Client Services Investment Package. As a result, the Board also amended the Corporate Performance Goals of the original FY-2011 Bonus Plan, as permitted by the Plan. All other plan elements and terms of the Plan remain as previously defined.
The amended goals for the FY-2011 Corporate Performance Component are as follows:
| Plan Targets |
Actual Performance |
Bonus % | ||||
| Net Bookings | Less than 90% | 0 | ||||
| 90% |
$ [***] | 90% | 65% | |||
| 100% |
$ [***] | 91% | 68% | |||
| 110% |
$ [***] | 92% | 71% | |||
| Revenue | 93% | 74% | ||||
| 90% |
$ 58,742,100 | 94% | 77% | |||
| 100% |
$ 65,269,000 | 95% | 80% | |||
| 110% |
$ 71,795,900 | 96% | 84% | |||
| ASF Retention | 97% | 88% | ||||
| 90% |
79.0% |
98% | 92% | |||
| 100% |
87.8% |
99% | 96% | |||
| 110% |
96.6% |
100% | 100% | |||
| EBITDA | 101% | 105% | ||||
| 90% |
($12,109,900) | 102% | 110% | |||
| 100% |
($11,009,000) | 103% | 115% | |||
| 110% |
($ 9,908,100) | 104% | 120% | |||
| Net Cash Use | 105% | 125% | ||||
| 90% |
($12,095,600) | 106% | 130% | |||
| 100% |
($10,996,000) | 107% | 135% | |||
| 110% |
($ 9,896,400) | 108% | 140% | |||
| 109% | 145% | |||||
| 110% | 150% | |||||
I have read, understood, and agree to the provisions of this Addendum to the Company’s Executive Bonus Plan for Fiscal Year 2011.
| EMPLOYEE: |
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| Name: | ||||
| Printed Name: | ||||
| Date: | ||||