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DWRE > SEC Filings for DWRE > Form 8-K on 14-Feb-2014All Recent SEC Filings

Show all filings for DEMANDWARE INC



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.

(e) Compensatory Arrangement

On February 10, 2014, the Compensation Committee of the Board of Directors (the "Board") of Demandware, Inc. (the "Company") approved the 2014 Executive Short-Term Incentive Program (the "2014 Plan"), pursuant to which the Company's executive officers are eligible to receive an annual cash bonus (a "Bonus Award") based on the Company's achievement of specified corporate thresholds and targets (90%) and on the executive's individual performance (10%) for the year ending December 31, 2014. Under the 2014 Plan, the corporate performance metrics and weighting are as follows:

27% of the corporate performance portion of the Bonus Award is based upon adjusted EBITDA;

18% of the corporate performance portion of the Bonus Award is based upon renewal dollar percentage; and

45% of the corporate performance portion of the Bonus Award is based on Company performance at the discretion of the Compensation Committee of the Board.

Under the 2014 Plan, each executive officer has an established target award, as set forth on the table below, representing a percentage of such executive's base salary for 2014. To the extent that the Company's actual performance exceeds the full performance target with respect to a particular performance metric, the target bonus may be increased by up to 50%.

                                    2014 Target Bonus Award as a
               Executive Officer      Percentage of Base Salary
               Thomas D. Ebling                               123 %
               Jeffrey G. Barnett                             100 %
               Wayne R. Whitcomb                               40 %

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