2007 Compensation Levels for Executive Officers of Pegasystems Inc.
All Changes Effective Retroactively to January 1, 2007
Name | Title | Base Salary | Target Bonus* |
Alan Trefler | Chief Executive Officer and Chairman | $225,000 | 100% |
Edward Hughes** | Senior Vice President, Global Sales | $250,000 | 40% |
Craig Dynes | Chief Financial Officer and Senior Vice President | $255,000 | 50% |
Douglas Kra | Vice President, Global Services | $230,000 | 50% |
Michael Pyle | Senior Vice President, Engineering | $230,000 | 50% |
* Percentage of 2007 base salary.
** Edward Hughes is eligible for the following additional incentive compensation:
1. $1,000 per $1 million in 2007 license bookings, for bookings up to the budget for license bookings established by the Board of Directors for 2007.
2. $4,000 per $1 million in 2007 license bookings, for bookings above the budget for license bookings established by the Board of Directors for 2007, up to 25% above such budget.
3. $6,000 per $1 million in 2007 license bookings, for bookings more than 25% above the budget for license bookings established by the Board of Directors for 2007.
4. $30,000 upon the achievement of specific individual performance goals to be established by the CEO, in his discretion.
In addition, the Compensation Committee determined the 2007 base salary and target bonus for Richard Jones. Mr. Jones is a Director of the Company and an employee, but not an executive officer. For 2007, Mr. Jones' base salary is $150,000, and his target bonus is 50% of his base salary.
The compensation for James Reilly, the Company's Vice President, Finance, Treasurer and Chief Accounting Officer, is expected to be reviewed later in 2007.
