Exhibit 10.6b
Executive Vice President Sales Incentive Plan
SIP Targets
• | Variable compensation opportunity for the Executive Vice President of Sales is based on a revenue target and MIP EBITDA Target. |
• | The weighting of the target is based on the following ratios: |
• | 50% MIP EBITDA – same structure as rest of management team |
• | 50% Revenue – Plan goal of ** |
• | SIP payout target is $300,000 annually, but will be pro-rated based on months employed. |
• | The payment of bonus will be on an annual basis, based on year end results. |
Executive Vice President Sales - Example
0000000000 | ||||
Salary | $300,000 | |||
Potential Bonus | $300,000 | |||
Total Annual Comp | $600,000 | |||
Paid Bonus | $178,777 | |||
Pro Rated Months | 6 | |||
Revenue | 50% | |||
MIP Target | 50% | |||
Revenue Target | ** | |||
MIP Target | ** | |||
Actual Revenue - Example | ** | |||
Actual EBITDA - Example | ** |
** Redacted
Potential Payment Outcomes
Pro-Rated Bonus
Actual Revenue | ||||||||||||||||||||||||||||||||
Target - $30 | Target - $20 | Target - $10 | Target
| Target +$10 million | Target +$20 million | Target +$30 million | Target million | |||||||||||||||||||||||||
Target - $12 million | $0 | $58,487 | $59,218 | $59,949 | $60,680 | $61,411 | $62,142 | $62,873 | ||||||||||||||||||||||||
Target - $8 million | $0 | $58,487 | $59,218 | $59,949 | $60,680 | $61,411 | $62,142 | $62,873 | ||||||||||||||||||||||||
Achieved EBITDA
| Target - $4 million | $90,000 | $148,487 | $149,218 | $149,949 | $150,680 | $151,411 | $152,142 | $152,873 | |||||||||||||||||||||||
Target | $117,000 | $175,487 | $176,218 | $176,949 | $177,680 | $178,411 | $179,142 | $179,873 | ||||||||||||||||||||||||
Target + $4 million | $122,087 | $180,574 | $181,305 | $182,036 | $182,767 | $183,498 | $184,229 | $184,960 | ||||||||||||||||||||||||
Target + $8 million | $127,174 | $185,661 | $186,392 | $187,123 | $187,854 | $188,585 | $189,316 | $190,047 |