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CRM > SEC Filings for CRM > Form 8-K on 28-Nov-2011All Recent SEC Filings

Show all filings for SALESFORCE COM INC | Request a Trial to NEW EDGAR Online Pro

Form 8-K for SALESFORCE COM INC


28-Nov-2011

Change in Directors or Principal Officers


Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On November 22, 2011, the Compensation Committee of the Board of Directors of salesforce.com, inc. (the "Company") approved changes to the compensation packages of Mr. Marc Benioff, our principal executive officer; Mr. Graham Smith, our principal financial officer; and the following named executive officers:
Messrs. Parker Harris, George Hu and Frank van Veenendaal (collectively, the "Named Executive Officers"). The table below sets forth the annual base salary and annual target bonus for the respective Named Executive Officer and will be effective on February 1, 2012. The bonus amounts will be determined based upon achievement of a mix of Company and individual performance objectives pursuant to the Company's Mahalo Bonus Plan. The Company's Fiscal Year 2013 will be from February 1, 2012 to January 31, 2013.

                                Annual Base Salary        Annual Target Bonus
        Name                   for Fiscal Year 2013      for Fiscal Year 2013
        Marc Benioff           $           1,000,000     $           1,500,000
        Graham Smith           $             500,000     $             500,000
        Parker Harris          $             500,000     $             500,000
        George Hu              $             500,000     $             500,000
        Frank van Veenendaal   $             500,000     $             500,000

The Compensation Committee also approved equity grants to the Named Executive Officers. Mr. Benioff received an option grant to purchase 350,000 shares of common stock at the fair market value on the grant date, subject to the Company's standard vesting schedule. Messrs. Smith, Harris, Hu and van Veenendaal each received an option grant to purchase 52,000 shares of common stock at the fair market value on the grant date and 4,300 restricted stock units, subject in each case to the Company's standard vesting schedule. The equity awards were granted pursuant to the Company's normal equity granting schedule on November 22, 2011 and follows the Company's granting schedule for follow-on equity grants to executive officers.


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