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ATHN > SEC Filings for ATHN > Form 8-K on 4-Apr-2013All Recent SEC Filings

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Form 8-K for ATHENAHEALTH INC


4-Apr-2013

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 March 29, 2013, the compensation committee (the "Committee") of the Board of Directors of athenahealth, Inc. ("athenahealth") approved the athenahealth Executive Incentive Plan (the "Plan"), which operates under and is subject to the athenahealth 2007 Stock Option and Incentive Plan. The Plan is designed to allow the Committee to grant awards that will be treated as performance-based compensation under Section 162(m) of the Internal Revenue Code and reward athenahealth executives for annual performance against financial and operational metrics that further athenahealth's business strategy.
Pursuant to the Plan, each participant is eligible to receive cash incentive award(s) calculated in part by reference to a "Target Award" determined for each participant by the Committee. Under the Plan, the Committee will establish one or more "Threshold Goals" for the performance cycle, which are minimum performance thresholds that must be achieved before participants may earn any award. If no Threshold Goal is achieved, no payments are made under the Plan. If any Threshold Goal is achieved, each participant is eligible to earn a "Maximum Award" which is 300% of the CEO's base salary and 100% of every other participant's base salary, up to a maximum of $2 million per participant for a performance cycle. The Maximum Award is then subject to reduction based on athenahealth's achievement of the "Scorecard Result" for that participant. The foregoing description of the Plan is qualified in its entirety by reference to the full text of the Plan, a copy of which is filed with this Current Report on Form 8-K as Exhibit 10.1 and is incorporated herein by reference. Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. Exhibit No. Description
10.1 athenahealth, Inc. Executive Incentive Plan


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