Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
The CallidusCloud Board has approved 2013 performance goals that will be used by
the Compensation Committee when determining cash bonus plans and
performance-based RSUs for executive officers and other senior employees for
2013.
The cash bonus program will be based on achieving a minimum threshold adjusted
EBITDA (generally earnings before interest, taxes, depreciation and
amortization, with such further adjustments as stock-based compensation) of $8
million with an on-target adjusted EBITDA of $10 million. 50% of the bonus may
be paid mid-year if at least $4 million adjusted EBITDA is met at June 30, 2013.
With respect to performance-based RSUs to be granted by the Compensation
Committee, the performance goals will require the attainment of SaaS revenue
growth of 25%, recurring revenue gross margins exceeding 70%, and, for the CEO
and CFO, the additional goal of DSO (days sales outstanding) of less than 80
days.
Add
CALD to Portfolio
Set Alert
Email to a
Friend