Attached files
file | filename |
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10-K - FORM 10-K - FAIR ISAAC CORP | c54808e10vk.htm |
EX-31.2 - EX-31.2 - FAIR ISAAC CORP | c54808exv31w2.htm |
EX-32.2 - EX-32.2 - FAIR ISAAC CORP | c54808exv32w2.htm |
EX-23.1 - EX-23.1 - FAIR ISAAC CORP | c54808exv23w1.htm |
EX-32.1 - EX-32.1 - FAIR ISAAC CORP | c54808exv32w1.htm |
EX-12.1 - EX-12.1 - FAIR ISAAC CORP | c54808exv12w1.htm |
EX-31.1 - EX-31.1 - FAIR ISAAC CORP | c54808exv31w1.htm |
EX-21.1 - EX-21.1 - FAIR ISAAC CORP | c54808exv21w1.htm |
EXHIBIT 10.42
Management Incentive Plan (MIP)
Fiscal Year 2010
Fiscal Year 2010
The Management Incentive Plan (MIP) applies to designated Executive Officers of the Company and
is designed to link a portion of a participants cash compensation to demonstrated performance. A
participant has an opportunity to earn incentive awards based on Company Performance, Unit or Work
Team Performance and Personal Performance results during the fiscal year. This document is the
sole document which governs the administration of MIP awards.
Incentive Awards made pursuant to the MIP are determined and distributed annually following
completion of the Companys fiscal year. The Committee may elect to issue interim awards in
conjunction with the Companys mid-year performance review process. Incentive Awards may be
prorated to account for partial Plan Year participation. Incentive awards will generally be
distributed to participants within 90 calendar days following the end of the fiscal year.
Incentive awards under the MIP are determined based upon funding availability for the award pool,
the performance of each Participants assigned Business Unit or Work Team and Personal Performance
against established performance goals. In general, annual incentive awards under the MIP target
fifty percent of base salary at the time of determination and cumulative annual awards to any
Participant will not exceed that Participants annual base salary received during the relevant Plan
Year.
Company performance is defined as the extent to which the Company attains established Incentive
Plan Funding Goals tied to the achievement of both revenue and net income targets as established by
the Committee at the beginning of the fiscal year. Business unit or work team performance is
defined as the extent to which a participants assigned business unit or work team achieves
targeted results while adhering to budgeted resources.
All Incentive Awards under the MIP are in the form of cash payments, less applicable tax
withholding, as determined by the Committee.
Financial results associated with business acquisitions, divestitures, share repurchase activity,
changes in the economy or markets served by the Company which substantially impact results attained
during the Plan Year may be excluded from the results used to calculate Incentive Awards. The
Committee will determine, in its sole discretion, whether such events have occurred and the extent
to which, if at all, goals should be adjusted.
The MIP is administered by the Compensation Committee of the Board of Directors (the Committee).
The Committee has the authority to interpret and administer all provisions and to make any rules
and regulations or take any action it deems necessary including amendments or revocation. All
awards issued under the MIP are at the sole discretion of the Committee.