Exhibit 10.7


 


TECH TARGET,
INC.

EXECUTIVE INCENTIVE BONUS PLAN


 


1.                                       Purpose


 


This Executive Incentive Bonus Plan (the “Incentive
Plan”) is intended to provide an incentive for superior work and to motivate
eligible executives of TechTarget, Inc. (the “Company”) toward even higher
achievement and business results, to tie their goals and interests to those of
the Company and its stockholders and to enable the Company to attract and
retain highly qualified executives. The Incentive Plan is for the benefit of Covered
Executives (as defined below).


 


2.                                       Covered
Executives


 


From time to time, the Compensation Committee of the
Board of Directors of the Company (the “Compensation Committee”) may select
certain key executives (the “Covered Executives”) to be eligible to receive
bonuses hereunder.


 


3.                                       Administration


 


The Compensation Committee shall have the sole
discretion and authority to administer and interpret the Incentive Plan. The specific goals and targets under of
the Incentive Plan for each performance period shall be determined by
the Compensation Committee and, once approved, filed with the minutes of the
Committee.


 


4.                                       Bonus
Determinations


 


(a)                                  A
Covered Executive may receive a bonus payment under the Incentive Plan based
upon the attainment of performance targets which are established by the
Compensation Committee and relate to financial and operational metrics with
respect to the Company or any of its subsidiaries (the “Performance Goals”), including
the following: earnings per share, revenues, EBITDA, EBITDA adjusted for
non-cash expenses such as stock-based compensation expense) or such other
metrics as the Committee may determine.


 


(b)                                 Except
as otherwise set forth in this Section 4(b): 
(i) any bonuses paid to Covered Executives under the Incentive Plan shall
be based upon objectively determinable bonus formulas that tie such bonuses to
one or more performance targets relating to the Performance Goals, (ii) bonus
formulas for Covered Executives shall be adopted in each performance period by
the Compensation Committee and communicated to each Covered Executive at the
beginning of each bonus period and (iii) no bonuses shall be paid to Covered
Executives unless and until the Compensation Committee makes a determination
with respect to the attainment of the performance objectives. Notwithstanding
the foregoing, the Company may adjust bonuses payable under the Incentive Plan
based on achievement of individual performance goals or pay bonuses (including,
without limitation, discretionary bonuses) to Covered Executives under the


 


 





















 


Incentive Plan
based upon such other terms and conditions as the Compensation Committee may in
its discretion determine.


 


(c)                                  Each
Covered Executive shall have a targeted bonus opportunity for each performance
period. The maximum bonus payable to a Covered Executive under the Plan shall
be established by the Committee for the applicable performance period.


 


(d)                                 The
payment of a bonus to a Covered Executive with respect to a performance period
shall be conditioned upon the Covered Executive’s employment by the Company on
the last day of the performance period; provided, however, that the
Compensation Committee may make exceptions to this requirement, in its sole
discretion, including, without limitation, in the case of a Covered Executive’s
termination of employment, retirement, death or disability and as required
under the terms of any applicable agreement with a Covered Executive.


 


5.                                       Timing
of Payment


 


The Performance Goals will be measured at the end of
each fiscal year after the Company’s financial reports have been published. If
the Performance Goals are met, payments will be made within 60 days thereafter,
but not later than March 15.


 


6.                                       Amendment
and Termination


 


The Company reserves the right to amend or terminate
the Incentive Plan at any time in its sole discretion.


 


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