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| WWWW > SEC Filings for WWWW > Form 8-K on 1-Feb-2013 | All Recent SEC Filings |
1-Feb-2013
Change in Directors or Principal Officers
(e) Compensatory Arrangements of Certain Officers
Payment of 2012 Bonuses for Named Executive Officers
On January 30, 2013, the Compensation Committee (the "Compensation Committee") of the Board of Directors (the "Board") of Web.com Group, Inc. (the "Company") approved cash bonus payments for 2012 to be paid to the Company's named executive officers (as defined in Item 402(a)(3) of Regulation S-K). The payments were based on the Compensation Committee's evaluation of certain individual and corporate performance objectives achieved during fiscal 2012. The 2012 bonus payments will be paid as soon as practical, and are set forth on Exhibit 10.1 to this Current Report on Form 8-K, which Exhibit is incorporated by this reference herein.
Establishment of 2013 Target Bonuses for Named Executive Officers
On January 30, 2013, the Compensation Committee established the target bonuses for the Company's named executive officers for 2013, expressed as a percentage of the annual base salary for each named executive officer. Bonuses will be earned based on the achievement of certain levels of non-GAAP earnings and revenue (the "Financial Performance Indicators") and may be paid in a mixture of cash and stock awards at the discretion of the Compensation Committee. The amount of a bonus for a named executive officer that will ultimately be paid for performance in 2013 will be based on the Compensation Committee's evaluation, in its sole discretion, of the Company's Financial Performance Indicators, other factors the Compensation Committee deems relevant and that named executive officer's performance in 2013. The target bonuses for the named executive officers for 2013, expressed as a percentage of each named executive officer's annual base salary, are set forth on Exhibit 10.1 to this Current Report on Form 8-K.
Equity Grants to Named Executive Officers
On January 30, 2013, the Compensation Committee approved the grant of restricted stock awards and stock options under the Company's 2008 Equity Incentive Plan (the "2008 Plan") to the Company's named executive officers. The equity grants are set forth on Exhibit 10.1 to this Current Report on Form 8-K.
Special Bonus Equity Grants to Named Executive Officers
On January 30, 2013, the Compensation Committee approved the grant of restricted stock awards under the Company's 2008 Equity Incentive Plan (the "2008 Plan") to the Company's named executive officers to recognize the particular efforts by such officers in connection with the Company's integration of the Network Solutions business that was acquired in 2011. The equity grants are set forth on Exhibit 10.1 to this Current Report on Form 8-K.
Discretionary Contribution to the Web.com Group, Inc. Supplemental Executive Retirement Plan ("SERP")
On January 30, 2013, the Compensation Committee approved a discretionary contribution to the SERP. The SERP is designed to provide a select group of management or highly compensated employees of the Company, who contribute significantly to the future business success of the Company, with supplemental retirement income benefits through discretionary Company contributions. The discretionary contributions made to the SERP for each named executive officer are set forth on Exhibit 10.1 to this Current Report on Form 8-K.
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