exv10w5






Exhibit 10.5




RealPage Confidential

Management Incentive Plan

Approved by Compensation Committee 2/27/09




RealPage 2009

Management Incentive Plan




	 	 	 	 	 	 	 
	Participant

	 	EMPLOYEE NAME
	 	Division
	 	DIVISION
	Target Award % (1)

	 	PERCENTAGE
	 	Eligibility Date:
	 	DATE






	 	 	 	 	 
	Criteria
	 	Weight	 	Target
	Corporate Revenue

	 	XX%	 	Each criterion has a target, a minimum, and a 
	Corporate EBITDA

	 	XX%
	 	maximum. The target pays out at 100%. The
	Divisional Revenue

	 	XX%
	 	minimum is 0% and the maximum is 200%.
	Divisional Profit

	 	XX%
	 	 
	Individual Performance Rating (4)

	 	XX%
	 	See Below








 




			
	(1)	 	Target Award % represents the percentage of base salary earned during the eligible
portion of the year which is achieved at target.
	 
	(2)	 	Corporate Revenue & EBITDA objectives are confidential and will not be disclosed
until year end results are released. Divisional revenue & profit objectives may be disclosed,
but should be kept strictly confidential.
	 
	(3)	 	Targets (including minimums and maximums) and awards may be adjusted at the sole
discretion of the compensation committee for significant non-controllable circumstances that
were not included in the budget; e.g., acquisitions.
	 
	(4)	 	Individual performance ratings and rankings will be used in the calculation of the
individual rating.




The 2009 RealPage Management Incentive Plan (“MIP”) is intended to reward mid-level and senior
managers with bonus compensation based on the achievement of corporate, group, departmental and
individual objectives. To be eligible to earn bonus awards under this plan, a participant must:





	 	i.	 	be a regular, full-time employee for at least 3 months during 2009;
	 
	 	ii.	 	be a regular, full-time employee on the date of payment of each award;
	 
	 	iii.	 	be a senior manager grade E13 or above;
	 
	 	iv.	 	not be on another incentive plan; and






	 	v.	 	achieve an individual performance rating above 3.0.




In addition, to be eligible to receive a bonus, minimum 2009 Revenue and EBITDA objectives for the
Company must be met.



A new manager will be eligible to initiate participation in the MIP three months after the
individual’s date of hire or promotion. Bonus awards will be prorated for the period of time the
participant is a member of the plan; e.g., the bonus for a qualified manager hired on April 1 would
be prorated by 50%. Determination of how much is awarded to each participant is a function of up
to five criteria. Achievement of objectives and goals will be determined by the Compensation
Committee of the Board of Directors based on recommendations made by the President. Possible
ratings range from 0% to 200% for each category. Awards will be made when declared in cash less
required taxes and withholdings.




Example



Assume annual base salary earned during the year for a manager is $100K. The target award for this
individual is 20% of base salary. Participant in the plan is based on the following weightings:




	 	 	 	 	 
	Corporate Revenue
	 	 	15	%
	Corporate EBITDA
	 	 	10	%
	Divisional Revenue
	 	 	30	%
	Divisional Profit
	 	 	20	%
	Individual Performance
	 	 	25	%





The compensation committee of the Board of Directors determines corporate revenue objective is
halfway between the 100% and 200% target, so this rating is 150%. EBITDA is also halfway between
100% and 200% goal so this rating is 150%. The division achieves both its revenue and profit
goals, but does not exceed them. The employee’s individual performance rating was 4.3, which the
board determined was worth 125% of the individual target. The bonus award for this individual
would be computed as follows:




	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	(1) Bonus based on corporate revenue achievement
	 	 	=	 	 	$	100,000 * .2 * .15 * 1.50	 	 	 	=	 	 	$	4,500	 
	(2) Bonus based on corporate EBITDA achievement
	 	 	=	 	 	$	100,000 * .2 * .10 * 1.50	 	 	 	=	 	 	$	3,000	 
	(3) Bonus based on divisional revenue achievement
	 	 	=	 	 	$	100,000 * .2 * .30 * 1.00	 	 	 	=	 	 	$	6,000	 
	(4) Bonus based on divisional profit achievement
	 	 	=	 	 	$	100,000 * .2 * .20 * 1.00	 	 	 	=	 	 	$	4,000	 
	(5) Bonus based on individual goals & initiatives
	 	 	=	 	 	$	100,000 * .2 * .25 * 1.25	 	 	 	=	 	 	$	6,250	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Total Award
	 	 	 	 	 	 	 	 	 	 	 	 	 	$	23,750	 






 









 






RealPage Confidential

Management Incentive Plan

Approved by Compensation Committee 2/27/09



Additional Terms and Conditions:



All payments under the Management Incentive Plan shall be subject to standard withholding policies
of the Company, including, without limitation, withholding for Federal Income Tax, FICA, Medicare,
etc.



The Management Incentive Plan may be modified or terminated from time to time or at any time by the
Company or the Compensation Committee at the Company’s or the Compensation Committee’s sole
discretion.



Unless there exists a written employment agreement executed by the participant and an authorized
representative of the Company, all participants in the Management Incentive Plan are employed “at
will” and may be terminated at any time, at the sole discretion of the Company. The Management
Incentive Plan does not constitute an employment agreement, nor does it constitute a guarantee of
continued employment.



A participant must be employed by the Company on the date of any payment under the Management
Incentive Plan.



This Management Incentive Plan is only effective for calendar year 2009.



By executing this Management Incentive Plan, the undersigned acknowledges that (s)he has read the
MIP, understands the MIP and agrees to be bound by the provisions of the MIP.




	 	 	 	 	 
	 	 
	  	 	 
	 	Employee Name 	 



	 	 	 	 	 
	  	 	 
	 	DATE