Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On
Payouts under the 2020 Executive MBO Plan will be determined by our Compensation Committee and will be based on company financial performance and individual performance. Financial performance will be measured by the achievement of specific financial goals related to contribution margin, with a revenue achievement requirement. Contribution margin is a non-GAAP measure that we define as operating income (loss) including other income (expense) net, but excluding the impact of the following: depreciation and amortization, acquisitions related intangible asset amortization, fair value adjustments to contingent consideration liability, stock-based compensation, restructuring and other charges, and foreign exchange gain (loss). Individual performance will be measured based on specified individual strategic and commercial business objectives.
Any bonuses payable pursuant to the 2020 Executive Bonus Plan will be paid in cash or in the form of fully vested restricted stock units, or a combination thereof.
Item 8.01. Other Events.
As reported in the Current Report on Form 8-K filed by
On
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits Exhibit No. Description 10.1 2020 Executive MBO Plan
--------------------------------------------------------------------------------
© Edgar Online, source