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CALD > SEC Filings for CALD > Form 8-K on 19-Nov-2012All Recent SEC Filings

Show all filings for CALLIDUS SOFTWARE INC

Form 8-K for CALLIDUS SOFTWARE INC


19-Nov-2012

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.

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.


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