Exhibit 10.14





Exhibit 10.14




eResearchTechnology, Inc.




2009 Bonus Plan




Set forth below is a summary of the eResearchTechnology, Inc. (“ERT” or the “Company”) 2009
Bonus Plan (the “2009 Plan”) recommended by the Compensation Committee and approved by the Board of
Directors at meetings on February 24 and 26, 2009, to be effective for fiscal 2009.



The purpose of the 2009 Plan is to promote the interests of the Company and its stockholders
by providing employees with financial rewards upon achievement of specified business objectives, as
well as help us attract and retain employees by providing attractive compensation opportunities
linked to performance results. All of our employees are eligible to participate in the 2009 Plan,
subject in some cases to certain waiting periods and with the exception that certain sales
personnel participate in a separate commission incentive plan instead of the 2009 Plan.



Bonuses payable under the 2009 Plan are recommended by the Committee and presented to the
Board. Bonuses payable to eligible participants are based on a variety of factors, including both
objective and subjective criteria. The objective criteria consist of targets for revenue, net
income, the revenue projected to be generated by new contracts into which we enter regardless of
when we actually recognize the revenue (the “Contract Revenues”) and gross profits of our ERT
consulting group, defined as revenue less direct payments made to providers of consulting services
(the “Consulting Profits”). The subjective criteria consist of individual performance goals and
objectives.



The revenue and net income targets at which 2009 Plan participants would earn 100% of the
bonus opportunity attributable to those targets is slightly higher than the upper end of the range
for revenues and net income provided as guidance for 2009 in the Company’s press release issued on
February 26, 2009. In the current economic climate, the Board intends that the 2009 Plan
participants earn the full bonus opportunity with respect to those targets only if the Company
achieves superior performance notwithstanding current economic conditions.



The Compensation Committee establishes the individual performance goals and objectives of the
President and Chief Executive Officer. The President and Chief Executive Officer establishes the individual
performance goals and objectives for the Company’s executive officers, subject to approval by the Compensation Committee. Performance objectives for the
remainder of the 2009 Plan participants are set by departmental supervisors who establish the individual performance goals in their respective departments
for these participants.



Dr. McKelvey’s individual goals focus on executing key initiatives supporting our 2009
business plan, including reviewing and making recommendations regarding potential expansion
opportunities, growing our electronic patient reporting outcome business, implementing programs to
increase centralization of ECGs in clinical trials and executing plans to enhance our information
technology infrastructure. Mr. Schneck’s individual goals consist primarily of enhancing the tax
efficiency and cash flow of our operations, improving investor relations, implementing improvements
to our billing systems and finance/accounting expenses and continuing to improve our planning and
forecasting processes. Individual goals of the remaining executive officers include continuing to
improve our quality audit and management systems, participating in our expanded sales and marketing
initiatives, improving the profitability of our consulting group, development of strategic
partnerships, continuous improvement in customer service, project assurance, internal processes and
operational efficiencies, and technology improvements and enhancements. Individual performance
goals for the remaining participants in the 2009 Plan are in line with the individual goals of the
executive officers.


 


 









 





Each participant in the 2009 Plan will be eligible to receive 50% to 150% of their 2009 bonus
opportunity that is allocable to each objective target category, based on the extent to which we
achieve the various specified targets, with the exception that Dr. Litwin’s bonus for Consulting
Profits shall be calculated at 10% of Consulting Profits and shall not exceed the $70,000 bonus
opportunity applicable to that target. Amounts payable based on achievement of individual
performance objectives can range from 0-100% of the applicable bonus opportunity.



For individual performance goals,
(i) the Compensation Committee or the Board, at the request of the Compensation Committee after providing its
recommendations to the Board, determines the extent to
which the goals have been achieved and any related bonus has been earned for the Company’s
President and Chief Executive Officer;
(ii) the Compensation Committee or the Board, at the request of the Compensation Committee after
providing its recommendations to the Board, determines the extent to which the goals
have been achieved and any related bonus has been earned for the remaining executive officers, after
receiving the recommendation of the Company’s President and Chief Executive Officer; and
(iii) the participant’s departmental supervisor determines the extent to which the goals have been
achieved and any related bonus has been earned for the remainder of the participants under the 2009
Plan.



The bonus opportunities and the related performance targets for each of the Company’s
executive officers are as follows:



	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Percentage of Bonus Based On:	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Individual	 	 	 	 
	 	 	 	 	Bonus	 	 	 	 	 	 	Net	 	 	Performance	 	 	Contract	 
	Name	 	Position	 	Opportunity	 	 	Revenues	 	 	Income	 	 	Goals	 	 	Revenues	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Michael J. McKelvey, Ph.D

	 	President, Chief
Executive Officer
and Director
	 	 	386,250	 	 	 	15	 	 	 	45	 	 	 	40	 	 	—
	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Joel Morganroth, MD1

	 	Chairman of the
Board of Directors
and Chief
Scientific Officer
	 	 	101,378	 	 	 	30	 	 	 	70	 	 	 	—	 	 	—
	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Keith D. Schneck

	 	Executive Vice
President, Chief
Financial Officer
and Secretary
	 	 	149,350	 	 	 	15	 	 	 	45	 	 	 	40	 	 	—
	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Thomas P. Devine

	 	Executive Vice
President and Chief
Development Officer
	 	 	126,394	 	 	 	15	 	 	 	45	 	 	 	40	 	 	—
	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Amy Furlong

	 	Executive Vice

President, Cardiac

Safety Operations
	 	 	129,470	 	 	 	15	 	 	 	45	 	 	 	40	 	 	—
	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Jeffrey S. Litwin, MD2

	 	Executive Vice
President and Chief
Medical Officer
	 	 	140,595	 	 	 	15	 	 	 	40	 	 	 	25	 	 	 	20	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 






 


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	 	 	 	 	 	 	 	 	Percentage of Bonus Based On:	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Individual	 	 	 	 
	 	 	 	 	Bonus	 	 	 	 	 	 	Net	 	 	Performance	 	 	Contract	 
	Name	 	Position	 	Opportunity	 	 	Revenues	 	 	Income	 	 	Goals	 	 	Revenues	 
	 
	 	 	 	 
	John M. Blakeley

	 	Executive Vice
President, Sales
and Marketing
	 	 	119,083	 	 	 	10	 	 	 	30	 	 	 	20	 	 	 	40	 
	 
	Robert S. Brown

	 	Senior Vice
President,
Strategic
Marketing, Planning
& Partnerships
	 	 	124,656	 	 	 	15	 	 	 	45	 	 	 	40	 	 	—
	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	George Tiger

	 	Senior Vice
President, 
Americas
Sales
	 	 	107,120	 	 	 	10	 	 	 	30	 	 	 	20
	 	 	 	40	 






 








	 	 	 
	1.	 	Under the terms of a Consultant Agreement effective January 1, 2009 between Joel Morganroth,
M.D., P.C. and the Company, in addition to other terms including base pay, Dr. Morganroth’s
professional corporation is entitled to an 80% commission as a percentage of our net revenues
for services performed by the Company’s consultant group that result directly from the
marketing efforts of his professional corporation. These commissions are not included in the
table above.

	 
	2.	 	Dr. Litwin is also entitled to an additional bonus of up to $70,000 based on the extent to
which the Company achieves specified Consulting Profits. This additional bonus is described
in more detail above and is not included in the table above.





Bonuses are payable based on the extent to which annual targets have been achieved, with the
bonuses (if any) normally being paid within ninety (90) days after the end of the calendar year in
which the bonuses were earned. Bonuses normally will be paid in cash in a single lump sum, subject
to payroll taxes and tax withholdings, as applicable.



Notwithstanding the foregoing, the Committee retains the discretion under the 2009 Plan to
adjust or recommend to the Board an adjustment to the amount of any bonus to be paid, regardless of
whether or the extent to which any of the objective criteria, including revenue, net income,
Contract Revenues and Consulting Profits, are achieved, and the Board retains the discretion to
make any such adjustment it deems appropriate.




 


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