Delaware | 26-0420454 | |
(State or other jurisdiction of | (IRS Employer | |
incorporation) | Identification No.) |
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
- Mr. Dechant is not eligible for any commission based on Stream's revenue for a particular quarter or the year unless Stream achieves at least 90% of its budgeted revenue for that quarter or the year. If Stream achieves between 90% and 100% of its budgeted revenue for a quarter or the year, then Mr. Dechant is eligible to receive between 40% and 120% of the revenue component of his target commission for that quarter or the year.
- Mr. Dechant is not eligible for any commission based on Stream's gross margin percentage for a particular quarter or the year unless Stream achieves at least 97.5% of its budgeted gross margin percentage for that quarter or the year. If Stream achieves between 97.5% and 100% of its budgeted revenue for a quarter or the year, then Mr. Dechant is eligible to receive between 50% and 100% of the gross margin percentage component of his target commission for that quarter or the year.
- If (1) Stream's actual revenue for the year ending December 31, 2009 is $10 million or more than its budgeted revenue for the full year 2009 and (2) Stream achieves at least 100% of its budgeted gross margin percentage for the year, then Mr. Dechant is eligible to receive additional commissions above his target commission. These additional commissions are based on the amount by which Stream's actual revenue for the year exceeds its budgeted revenue, starting at $50,000 of additional commission for the first $10 million of revenue over-achievement, $100,000 of additional commission for the first $15 million of revenue over-achievement, and increasing by $100,000 increments of commission for each additional full $5 million of revenue over-achievement over $15 million of revenue over-achievement.
The above desription of the material terms of the Plan is qualified in its entirety by the complete text of the Plan, which is filed as Exhibit 10.1 to this report and is incorporated herein by reference.
Stream Global Services, Inc. | ||||||||
Date: May 08, 2009 | By: | /s/ R. Scott Murray | ||||||
R. Scott Murray | ||||||||
Chief Executive Officer and President | ||||||||
Exhibit No. | Description | |
EX-10.1 | Stream's 2009 Executive Sales Commission Plan |