Document:

exv10w17

Exhibit 10.17

CARDIAC SCIENCE

EXECUTIVE INCENTIVE PLAN

2010

SECTION 1 — INTRODUCTION

Plan Objectives

The goal of Cardiac Science’s Executive Incentive Plan (the “Plan”) is to enhance and reinforce the
goals of Cardiac Science Corporation (the “Company”) by providing Participants with additional
financial incentives and rewards upon the attainment of such goals. Final approval of the payment
of any awards made under the Plan is subject to the sole discretion of the Compensation Committee.
This Plan is intended to be a “bonus program” as defined under U.S. Department of Labor Regulation
Section 2510.3-2(c) and shall be construed and administered in accordance with such intention.

Effective Date

The Plan is effective for the year beginning January 1, 2010 and ending December 31, 2010
coinciding with the Company’s annual fiscal year and will be referred to as the “Year” or “Plan
Year”.

SECTION 2 — DEFINITIONS

Unless defined elsewhere in the Plan, definitions of terms as used throughout this Plan document
are as follows:

	•	 	“Executive” means an employee who holds a VP level position or higher.

	•	 	“Participant(s)” means an “Executive”, as the case may be, designated and approved by the
Compensation Committee and/or the Chief Executive Officer to participate in the Plan.

SECTION 3 — PLAN ADMINISTRATION

Administration

The Plan shall be administered by the Chief Executive Officer under the oversight of and subject to
the discretion of the Compensation Committee.

Participation

Participation in the Plan shall be limited to Executives of the Company selected by the Chief
Executive Officer and/or the Compensation Committee. To be or remain eligible to participate in
the Plan, an employee’s performance in the Plan Year must be at or above the Company’s performance
expectations for that employee. In selecting Participants, the Chief Executive Officer and/or the
Compensation Committee shall consider an employee’s position and potential impact on the Company’s
business results and performance. Any bonus for a Participant who joins the Plan after the start
of the Plan Year will be based on the Participant’s base salary gross earnings beginning when the
Participant becomes eligible during the Plan Year.

Bonus Awards

Participants’ bonuses are calculated as described in Section 4. Receipt of this bonus is determined
based on a Participant’s target incentive percentage of base salary gross earnings, his/her
performance, and the Company’s achievement of its Revenue and Operating Cash Flow Targets, as
approved by the Board of Directors.

Executive Incentive Plan 2010

CONFIDENTIAL & PROPRIETARY

Page 1 of 4

 

Payment of Incentives

Normal Payment. Annual incentive bonuses do not vest until the day a bonus is paid to a
Participant for a given Plan Year. To receive a bonus under the Plan, a Participant receiving the
bonus must be employed on the day the bonus is paid. Incentive bonus shall be made in the first
pay period after the Company has filed its Annual Report on Form 10-K with the SEC; provided that
such payment will not be made later than the 15th day of the third calendar month of the calendar
year following the end of the applicable Plan Year. Except as provided below, no bonus shall be
earned by or paid to a Participant whose employment is terminated for any reason prior to the bonus
payment date, whether during the Plan Year or during the following calendar year prior to the bonus
payment date.

Approved Leaves of Absence. If a Participant is on an approved Leave of Absence (subject
to Cardiac Science’s Leave of Absence policy) (a) on the date a Plan award payment is made that
relates to the immediately previous Plan Year and such Participant was employed during the entire
immediately previous Plan Year, such Participant shall be deemed to be employed on the date of the
Plan payment and shall receive his or her full incentive award as calculated in accordance with
Section 4; or (b) during the Plan Year, such Participant shall receive a proportionate share of
what otherwise would be the Participant’s incentive award based on his or her eligible base salary
earnings (excluding any company paid short-term disability) during the portion of the Plan Year
that he or she was employed and not on a Leave of Absence, if he or she remains on an approved
Leave of Absence on the payment date, he or she will be deemed to be employed on the payment date.

Death or Disability. If a Participant has died or become disabled and is no longer
employed (a) on the date a Plan payment is made that relates to the immediately previous Plan Year
and such Participant was actively employed during the entire immediately previous Plan Year, such
Participant shall be deemed to be employed on the date of the Plan payment and shall receive his or
her full incentive award as calculated in accordance with Section 4; or (b) during the Plan Year,
such Participant shall receive a proportionate share of what otherwise would be the Participant’s
incentive award based on his or her eligible base salary earnings (excluding any company paid
short-term disability) during the portion of the Plan Year that he or she was employed.

Participant Transfers. If a Participant is transferred to another position within the
Company during the Plan Year, and, as a result of such transfer, is no longer eligible to
participate in the Plan as of the date of his or her transfer, he or she shall receive a
proportionate share of what otherwise would be the Participant’s incentive award based on his or
her eligible base salary earnings during the portion of the Plan Year that he or she was eligible
to participate in the Plan.

Plan Changes

The Company reserves the right to amend, revoke, or terminate this Plan or any portion of it, at
any time, for any reason whatsoever, with or without cause or advance notice. Payments may not be
made under this Plan at any time if, in the sole discretion of the Chief Executive Officer or
Compensation Committee, the overall performance of the Company does not warrant the payment of
incentive awards.

Other Conditions

Right of Assignment. No Participant may sell, assign, transfer, discount, or pledge as
collateral for a loan or otherwise anticipate his or her right to any distribution under the Plan.
In the event of a Participant’s death, payment shall be made to the Participant’s designated
beneficiary, or in the absence of such designation, to the Participant’s estate.

Right of Employment. Nothing in this Agreement alters the “at will” nature of every
Participant’s employment. A Participant or the Company may terminate a Participant’s employment
relationship with the Company for any reason or for no reason, with or without cause or advance
notice.

Executive Incentive Plan 2010

CONFIDENTIAL & PROPRIETARY

Page 2 of 4

 

Withholding for Taxes. The Company shall have the right, and the Participant consents, to
deduct from all payments under this Plan any federal or state taxes or other payroll withholdings
required by law to be withheld with respect to such payments.

Section 409A. The Company makes no representations or warranties to Participants with
respect to any tax, economic or legal consequences of this Plan or any payments or other benefits
provided hereunder, including without limitation under Section 409A of the Internal Revenue Code of
1986, as amended, the regulations issued thereunder and any applicable guidance (together “Code
Section 409A”) and no provision of the Plan shall be interpreted or construed to transfer any
liability for failure to comply with Code Section 409A from a Participant or any other individual
to the Company or any of its affiliates. Each Participant by accepting payment under the Plan
shall be deemed to have waived any claim against the Company and its affiliates with respect to any
such tax, economic or legal consequences. However, the parties intend that this Plan and the
payments and other benefits provided hereunder be exempt from the requirements of Code Section 409A
to the maximum extent possible, whether pursuant to the short-term deferral exception described in
Treasury Regulation Section 1.409A-1(b)(4), the involuntary separation pay plan exception described
in Treasury Regulation Section 1.409A-1(b)(9)(iii), or otherwise. To the extent Code Section 409A
is applicable to this Plan (and such payments and benefits), the parties intend that this Plan (and
such payments and benefits) comply with the deferral, payout and other limitations and restrictions
imposed under Code Section 409A. In addition, if a Participant is a “specified employee,” within
the meaning of Code Section 409A, then to the extent necessary to avoid subjecting the Participant
to the imposition of any additional tax under Code Section 409A, amounts that would otherwise be
payable under this Plan during the six month period immediately following a Participant’s
“separation from service,” as defined under Code Section 409A, shall not be paid to the Participant
during such period, but shall be accumulated and paid to the Participant in a lump sum on the first
business day after the earlier of the date that is six months following his or her separation from
service or his or her death. Notwithstanding any other provision of this Plan to the contrary,
this Plan shall be interpreted, operated and administered in a manner consistent with such
intentions. In accordance with the foregoing, the Plan shall be deemed to be amended, and any
deferrals and distributions hereunder shall be deemed to be modified, to the extent permitted by
and necessary to comply with Code Section 409A and to avoid or mitigate the imposition of
additional taxes under Code Section 409A.

Gender. Any masculine terminology used herein shall also include the feminine, and the
definition of any terms herein in the singular shall also include the plural.

SECTION 4 — OPERATING RULES

Plan Design

The Compensation Committee, may, at any time in its sole discretion, based on relevant facts and
circumstances, adjust incentive percentages or actual payout levels to be above or below the
established targets.

Bonus. For 2010, bonuses are based on the attainment of Revenue and Operating Cash Flow
Targets. Accordingly, the Company must achieve the targeted thresholds before any awards will begin
to accrue.

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Revenue	 	Operating Cash Flow	 	Personal Objectives
	0% threshold
	 	Budget - 6%	 	Budget – 100%	 	 	N/A	 
	Target
	 	Budget	 	Budget	 	Individual
	2X threshold
	 	Budget + 6%	 	Budget + 100%	 	 	N/A	 

No revenue/cash flow bonuses shall be paid where targets result in a 0% or below threshold.
Bonus amounts shall also be pro-rated between threshold levels (i.e. between 0% and target or
between target and 2X). Bonus amounts for personal objectives are not subject to thresholds.

Executive Incentive Plan 2010

CONFIDENTIAL & PROPRIETARY

Page 3 of 4

 

Target Incentives A Participant’s target incentive is a percentage of annual base salary
gross earnings based on his or her position with the Company in accordance with the chart below.

	 	 	 	 	 	 	 
	CEO	 	CFO/SVP	 	VP	 	Sales VP
	100%

	 	50%
	 	30%
	 	10%

The target incentive is achieved based on weighted performance criteria which consists of a
combination of the Participant’s and the Company’s performance in the applicable Plan Year as
provided in the following chart:

	 	 	 	 	 	 	 	 	 
	Criteria	 	CEO	 	CFO/SVP	 	VP	 	Sales VP
	Participant
	 	15%
	 	15%
	 	25%
	 	   0%
	Company
	 	85%
	 	85%
	 	75%
	 	100%

Individual Performance Objectives = a weighted percentage of total incentive target.

Individual performance objectives that support the Company’s objectives are determined by a
Participant’s immediate supervisor and should be reviewed and updated semi-annually by the
Participant’s immediate supervisor, or in the case of the CEO, by the Board or Compensation
Committee. Objectives are subject at all times to the discretion of the immediate
supervisor and/or Board of Directors. This portion of the incentive award is paid annually
in accordance with Section 3.

Company Objectives = a weighted percentage of total incentive target.

Company objectives are based on the achievement of targeted Budgeted Revenue and Free Cash
Flow, and on meeting the corporate objectives agreed upon at the beginning of the Plan Year.
This portion of the incentive award is also paid annually in accordance with Section 3.

The Compensation Committee, may, at any time in its sole discretion, based on relevant facts and
circumstances, adjust incentive percentages or actual payout levels to be above or below the
established targets.

The Plan is adopted by the Company and is effective January 1, 2010.

CARDIAC SCIENCE CORPORATION

	 	 	 
	By:

	 	 
	 

	 	 
	 
	 	 
	Its:
	 	 
	 

	 	 
	 
	 	 
	Date:
	 	 
	 

	 	 

Executive Incentive Plan 2010

CONFIDENTIAL & PROPRIETARY

Page 4 of 4exv10w20

Exhibit 10.20

2010 COMPENSATION INCENTIVE PLAN

VICE PRESIDENT, INTERNATIONAL SALES

Your 2010 bonus compensation will consist of participation in the broader Management Incentive
Program (MIP) per guidelines of Program (targeted at 10% of your base salary if the Company makes
its budgeted pre-tax income target) and the individualized incentive plan as described herein.

One component of your 2010 individualized incentive will be based on the 2010 revenue and gross
profit relating to the International sales channel, excluding revenues generated by selling
products to Japan (AED & monitoring) and GE Medical, as internally reported (referred to as
“primary sales”).

The 2010 primary sales and related gross profit targets have been established by the SVP of Sales
and Marketing and approved by the CEO and board of directors of the Company.

As the following tables indicate, at 95% of both the sales and gross profit dollar targets you will
be eligible for incentive pay of 2.5% of your base salary at December 31, 2010 for each. At
between 96% and 100% of the respective targets, the incentive pay percentage shall increase from
2.5% by an additional 1% for each additional 1% of achievement up to 7.5% for each target. If
gross profit exceeds 100% of target, you will receive another 1.0% of your base salary for each
percentage point by which gross profit exceeds target. The total targeted bonus can not exceed 100%
of the current base salary.

	 	 	 	 	 	 	 	 	 
	Current	 	% of	 	 	 	 
	Base Salary	 	Target	 	Sales Bonus	 	Gross Profit Bonus
	£248,568
	 	 	95	%	 	2.5% of Base Salary	 	2.5% of Base Salary
		 	 	96	%	 	3.5% of Base Salary	 	3.5% of Base Salary
	 
	 	 	97	%	 	4.5% of Base Salary	 	4.5% of Base Salary
	 
	 	 	98	%	 	5.5% of Base Salary	 	5.5% of Base Salary
	 
	 	 	99	%	 	6.5% of Base Salary	 	6.5% of Base Salary
	 
	 	 	100	%	 	7.5% of Base Salary	 	7.5% of Base Salary
	 
	 	 	101	+%	 	 	 	+1.0%
for each 1% over  100%

Another component of your individualized incentive will be based on gross profit relating to
defibrillation products sold to Japan and GE (outside of the United States). You will receive a
bonus of 3% of your salary if the Company achieves 100% of the budgeted gross profit resulting from
combined sales to GE and Japan (including both defibrillation and cardiac monitoring products). In
addition, you will receive an additional 1% of your salary for each percentage point by which
actual gross profit resulting from sales to GE and Japan exceed 100% of budget.

			
	 	 	 
	Cardiac Science Corporation
	 	Confidential

 

Any bonus amounts payable in accordance with the terms of this letter which is determined as a
percentage of your salary will be calculated in GBP, based on your salary as stated in GBP. The
bonus amount that will be determined based on gross profit from sales to Japan and GE will be
calculated in US$ and then converted into GBP at a rate of £1.47 to US $1.0.

The total bonus, if any, will be paid no later than 30-days following the conclusion of the audit
of the financial statements for the year ending December 31, 2010 and their filing with the SEC,
but no later than March 15, 2011.

Separation of employment, by resignation or termination, prior to March 15, 2011 will result in the
forfeiture of the sales incentive payment. The Incentive Plan and the award of incentive pay is at
the absolute discretion of the board of directors, and the company reserves the right to modify,
amend or cancel the Incentive Plan with or without notice to the Executive.

The Incentive Plan is not intended to create any contractual rights or agreement between the
employee and the Company, and as such does not modify, amend or supersede the nature of employment
with the company.

Please sign as acceptance and return one copy to Barbara Thompson, Vice President, Human Resources,
and retain the other copy for your personal files.

	 	 	 
	 
	 	 
	Dave Marver
	 	Kurt Lemvigh
	Chief Executive Officer
	 	Vice President, International
	 
	 	 
	Dated:
	 	Dated:
	 
	 	 

			
	 	 	 
	Cardiac Science Corporation
	 	Confidential

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