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NAVI > SEC Filings for NAVI > Form 8-K on 23-Sep-2009All Recent SEC Filings

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Form 8-K for NAVISITE INC


23-Sep-2009

Change in Directors or Principal Officers, Financial Statements and Exhibits


Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(e) On September 17, 2009, the Governance, Nominating and Compensation Committee (the "GNC Committee") of the Board of Directors of NaviSite, Inc. (the "Company"), established the NaviSite, Inc. FY 2010 Executive Management Bonus Program, creating target cash bonuses for the Company's 2010 fiscal year for the executive officers and other senior executives of the Company, including Mr. Arthur P. Becker, the Company's Chief Executive Officer and President, James W. Pluntze, the Company's Chief Financial Officer, and Mark Clayman, the Company's Senior Vice President of Hosting Services. The award of a cash bonus to any executive officer or senior executive pursuant to this program is subject to the achievement of certain targets for fiscal year 2010, including consolidated revenue and EBITDA for the Company and individual performance objectives. EBITDA, for purposes of this bonus program, is defined as earnings before interest, taxes, depreciation and amortization, excluding impairment costs, stock-based compensation, severance, costs related to discontinued operations, and other non-operational charges. The bonus that would be awarded if the targets are met, for each of the principal executive officer, principal financial officer and named executive officers, is set forth below:

                         Name                Target Bonus
                         Arthur P. Becker    $    262,500
                         James W. Pluntze    $    106,920
                         Mark Clayman        $    150,000



Item 9.01 Financial Statements and Exhibits.
(d) Exhibits The exhibit listed in the Exhibit Index below is filed with this report.


Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

NaviSite, Inc.

Date: September 23, 2009

By: /s/ James W. Pluntze
James W. Pluntze
Chief Financial Officer


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