Exhibit 10.18
Dear Luca,
We are delighted to outline below the terms of the variable compensation plan (PlanJ for you in your role as Chief Revenue Officer (CRO). This Plan is effective from the 1st of February 2020 to the 31st January 2021 and is an annual plan with quarterly advances, payable in accordance with the Terms & Conditions for Sprinklr 2021 Bonus Plans.
As an annual plan with quarterly advances, once the plan is effective, your quarterly advance payments will be made in the month following the end of any fiscal quarter (e.g. May, August & November). The payment date for Q4 will be March 2021 to take account of year end true-up work and calculations.
Eligible Bonus Amount
Your annual variable pay target for Q1-Q3 was 262,500 CHF (350,000 CHF annually). Effective November 1, 2020, your new annual variable target will be 396,000 CHF. For Q1-Q3, your quarterly target was 87,500 CHF and for Q4, your quarterly target is 99,000 CHF. Your plan has a quarterly maximum with the quarterly advance capped at a maximum of 75% (65,625 CHF) for Q1-Q3 and (74,250 CHF) for Q4.
There are 2 components to your bonus plan:
| | 1. | Attainment of the annual Company Gross New ARR target of $107 million US Dollars. Your total eligible incentive for Gross New ARR is 271,125 CHF which equals 75% of your annual incentive target. |
| | 2. | Attainment of the Company ARR retention target of 90% equalling 25% of your annual target incentive or 90,375 CHF. |
Gross New ARR target – 75%
75% of your eligible quarterly bonuses will be earned based on attainment of the Company Gross New ARR target with the minimum attainment required for pay out of 50% of the quarterly target. Your quarterly annual target for Gross New ARR is as follows (capped at 75% of target) is 65,625 CHF for quarters (Q1-Q3) and 74,250 (Q4). Your annual ARR target is further broken down as follows: 22.102M for Q1; 25.3M for Q2; 26.6M for Q3 and 33M for Q4. No quarterly payment will be made unless quarterly performance is greater than or equal to 50% of the quarterly quota target. The table below summarizes the rates and payout range for each quarter.
1
