Attached files
file | filename |
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10-K - FORM 10-K - CLARIENT, INC | c97540e10vk.htm |
EX-23 - EXHIBIT 23 - CLARIENT, INC | c97540exv23.htm |
EX-21 - EXHIBIT 21 - CLARIENT, INC | c97540exv21.htm |
EX-3.1 - EXHIBIT 3.1 - CLARIENT, INC | c97540exv3w1.htm |
EX-23.1 - EXHIBIT 23.1 - CLARIENT, INC | c97540exv23w1.htm |
EX-32.2 - EXHIBIT 32.2 - CLARIENT, INC | c97540exv32w2.htm |
EX-31.1 - EXHIBIT 31.1 - CLARIENT, INC | c97540exv31w1.htm |
EX-10.9 - EXHIBIT 10.9 - CLARIENT, INC | c97540exv10w9.htm |
EX-31.2 - EXHIBIT 31.2 - CLARIENT, INC | c97540exv31w2.htm |
EX-32.1 - EXHIBIT 32.1 - CLARIENT, INC | c97540exv32w1.htm |
EX-10.36 - EXHIBIT 10.36 - CLARIENT, INC | c97540exv10w36.htm |
EX-10.35 - EXHIBIT 10.35 - CLARIENT, INC | c97540exv10w35.htm |
EX-10.51 - EXHIBIT 10.51 - CLARIENT, INC | c97540exv10w51.htm |
Exhibit 10.37
2009 Management Incentive Plan
On April 22 2009, the Compensation Committee of the Board of Directors (the Committee) of
Clarient, Inc. (the Company) adopted the 2009 Management Incentive Plan (the 2009 Incentive
Plan) to provide cash incentives for the Companys executive officers and certain other employees.
The 2009 Incentive Plan is intended to assist the Company in attracting, retaining and motivating
highly qualified and experienced managers. The 2009 Incentive Plan rewards corporate and individual
performance with a goal of helping to align the total compensation of the participants with the
interests of the Companys stockholders.
Because the 2009 Incentive Plan is not set forth in any formal document, a general description
outlining the 2009 Incentive Plan follows. Under the 2009 Incentive Plan variable cash incentives,
if any, will be paid based on the achievement of specified corporate and individual objectives. The
variable cash incentive component of each participants total compensation is based on a target
amount. The amount of such compensation for executive officers will be determined based on the
following factors: (i) 70% based on achievement of the Companys financial objectives, (ii) 20%
based on the achievement of corporate objectives, and (iii) 10% based on the achievement of certain
leadership objectives, with a potential payout at target incentive levels of approximately
$600,000. Non-officer variable compensation for 2009 will be determined based on the following
factors: (i) 60% based on achievement of financial objectives, (ii) 30% based on the achievement of
corporate objectives, and (iii) 10% based on the achievement of certain leadership objectives, with
a potential payout at target incentive levels of approximately $800,000. The target incentive
awards for officers range from 30% to 75% of salary compensation.
Each participant can earn up to 200% of their target based on very high achievement of these
objectives established by the Committee. There is no mandatory minimum award payable under the 2009
Incentive Plan. Bonus awards are subject to the approval of the Committee and are based on a
combination of total corporate performance and individual performance. The actual cash incentive
paid to a participant in the 2009 Incentive Plan may be adjusted based upon the achievement of
corporate and individual objectives and will be measured on a sliding scale basis (e.g. 50%
achievement would result in payment of 50% of target incentives, 100% achievement would result in
payment of 100% of target incentives and 200% achievement would result in payment of 200% of target
incentives). The Committee, in its discretion, may award bonuses even if the 2009 Incentive Plans
financial targets are not met.
The Board also approved the financial and the corporate objectives for the 2009 Incentive
Plan. These financial objectives are based on achieving specified levels of improvement in revenue
and in earnings before interest, tax, depreciation and amortization expense. The corporate
objectives include specified individual business objectives, as well as certain company-wide
objectives. These objectives include customer satisfaction, customer retention, certain project
milestones, certain productivity metrics and maintaining regulatory compliance. Leadership
objectives include maintenance of the Companys performance culture, individual performance
appraisals and evaluation of individual development plans. The incentives are earned over the
course of fiscal year 2009 and are expected to be paid by March 15, 2010.