Document:

EX-10.1

 Exhibit 10.1 

 

			
		 
	 

	 	 2013 Executive Bonus
Plan
  

 This plan document outlines the Blucora Executive Bonus Plan (the “Plan”) for calendar year 2013. 

PLAN OBJECTIVES 

	 	•	 	 Align the compensation of executive management to key financial drivers. 

 

	 	•	 	 Provide variable pay opportunities and targeted total cash compensation that is competitive within our labor markets. 

 

	 	•	 	 Increase the competitiveness of executive pay without increasing fixed costs, making bonus payments contingent upon organizational and individual
success. 

  

	 	•	 	 Create internal consistency and standard guidelines among the executive peer group. 

EFFECTIVE DATE 
 The Plan was
adopted by the Compensation Committee on February 14, 2013, and is effective for calendar year 2013.1 The Plan may be changed at any time at the sole discretion of the Compensation Committee of the Board of Directors. 
 PARTICIPATION ELIGIBILITY, BONUS TARGETS AND PAYOUT TIMING 
 The positions eligible
for participation in the Plan are listed in the table below. Each participant’s annual bonus target, which is stated as a percentage of annual base salary, is also set forth in the table below. If the executive leadership team changes
composition, any additions to the Plan will be recommended by the CEO and approved by the Compensation Committee. Payment of bonuses awarded under this Plan will be made annually, following the conclusion of the calendar year. 

 

					
	 Job Title
	  	Target
Bonus %	 
	 President and Chief Executive Officer
	  	 	100	% 
	 Chief Financial Officer and Treasurer
	  	 	60	% 
	 EVP Corporate Development
	  	 	55	% 
	 General Counsel and Secretary
	  	 	50	% 
	 VP - Distribution & Business Development (InfoSpace)
	  	 	70	% 
	 President, 2nd Story Software, Inc. (TaxACT)
	  	 	50	% 

 PLAN DESIGN 
 The Plan includes financial performance components and a component that is based on individual objectives and the CEO’s (or, with respect to the CEO, the Compensation Committee’s) subjective
evaluation of that individual’s performance. The financial performance components collectively represent 80% of the bonus target, and the objectives/discretionary component represents 20% of the bonus target. The financial performance
components, and the weightings of the financial performance components, differ among plan participants as noted in the table below. 
  

 

	1 	 With respect to the President, 2nd Story Software, due to the seasonal cycle of that business and notwithstanding any other language in this Plan, the
financial performance components shall be measured against results for the twelve months ending June 30, 2014 and shall be paid following the conclusion of such time period after approval by the Compensation Committee; during the first six
months of 2013 the discretionary component shall be 30% (with the remaining 70% financial components as provided for in the July 31, 2012 Addendum to the 2012 Blucora Executive Bonus Plan); and the discretionary component shall be 20% for the
second six months of 2013, with the discretionary component measured semi-annually against achievement during the 2013 calendar year and paid following the end of 2013, concurrent with other payments made under this Plan.

							
	 Job Title
	  	 Financial Components and Weighting
	  	Discretionary
Component	 
	 President and Chief Executive Officer
	  	50% Adjusted EBITDA, 30% Revenue	  	 	20	% 
	 Chief Financial Officer and Treasurer
	  	50% Adjusted EBITDA; 30% Revenue	  	 	20	% 
	 EVP Corporate Development
	  	50% Adjusted EBITDA; 30% Revenue	  	 	20	% 
	 General Counsel and Secretary
	  	50% Adjusted EBITDA; 30% Revenue	  	 	20	% 
	 VP - Distribution & Business Development (InfoSpace)
	  	10% Adjusted EBITDA; 30% Search Segment Income; 20% Search Segment Revenue; 20% Search Segment distribution margin	  	 	20	% 
	 President, 2nd Story Software, Inc. (TaxACT)
	  	10% Adjusted EBITDA; 25% Tax Preparation Segment Revenue; 20% Tax Preparation Segment Income; 25% Market Share	  	 	20	% 

 Each financial performance component may be achieved at a percentage ranging from 0 to 165%, and the
objectives/discretionary component may be achieved at a percentage ranging from 0% to 100%, with the result that the aggregate maximum payout level under the Plan is 152%. The Executive Bonus Payment Scale set forth below is applicable to determine
the achievement of financial performance components. The financial performance component targets at 100% match the corresponding operating plan targets approved by the Board of Directors in November 2012. The level of achievement of the
objectives/discretionary component is subjectively determined on a semi-annual basis by the CEO (or, with respect to the CEO, by the Compensation Committee). 
 Financial Targets 
 The financial performance components used to determine the bonus
achievement are defined as follows: 
  

	 	•	 	 Revenue = Consolidated, externally reported Revenue 

  

	 	•	 	 Total Adjusted EBITDA = Consolidated, externally reported EBITDA normalized for internally developed software and other non-operational items

  

	 	•	 	 Search Segment distribution margin = the profit margin for the Company’s search distribution business 

 

	 	•	 	 Segment Income or Revenue, as applicable = externally reported Income or Revenue for the applicable segment, with Income normalized for internally
developed software and other non-operational items 

  

	 	•	 	 Market Share = DDIY efile market share 

 Bonus Scale 
 The Executive Bonus Payment Scale below will be used to calculate the
available amounts to be paid to executives based on the financial performance components. 
  

					
	 Executive Bonus Payment
Scale

	 Performance Level
	  	Financial Performance vs. Target	 	Bonus Achievement Percentage
	 Below Threshold
	  	0% - 79%	 	0%
	 Thresholds
	  	80%	 	50%
		  	81% to 99%	 	55% to 95%
	 Target
	  	100%	 	100%
		  	101% - 119%	 	101% - 119%
	 Acceleration
	  	120% - 140%	 	121% - 165%
	 Maximum
	  	> 141%	 	165%

  

	 	•	 	 Rounding. Performance results will be rounded up to the nearest whole percentage point. For example, if the calculated performance achievement
percentage is 79.1%, it will be rounded up to 80%. 

	 	•	 	 Performance Thresholds. There will be no payout for a financial performance component if the financial target is not at least 80% achieved.
However, if the threshold for one financial performance component is not achieved, a bonus may still be earned on the other financial performance component(s), provided performance for that measure achieves the 80% threshold. The
objectives/discretionary component is independent of the financial performance components, and may be awarded whether or not the threshold any financial performance components has been met. 

 

	 	•	 	 Acceleration Below Target. For each whole percentage point of performance between threshold and target, the bonus achievement percentage will
increase by 2.5% per percentage point. 

  

	 	•	 	 Acceleration Between Target and 120%. For each whole percentage point of performance that exceeds 100% of target up to 120% of target, the bonus
achievement percentage will increase by 1.0% per percentage point, up to 120% of bonus achievement. 

  

	 	•	 	 Acceleration Above 120%. For each whole percentage point of performance that exceeds 120% of target, the bonus achievement percentage will
increase by 2.2% per percentage point, up to a maximum of 165% of bonus achievement. 

 EMPLOYMENT REQUIREMENTS

 In order to be eligible for a bonus payment under the Plan, and for a bonus to be considered earned under the Plan, participants must
be employed at the end of the fiscal year; provided, however, that if a participant’s employment is terminated during the year “without Cause” or by the participant for “Good Reason” or due to “Constructive
Termination” as such terms are defined in the applicable participant’s employment agreement, then the participant will be entitled to accrued bonus as of the date of his or her termination. Accrued bonus will be calculated as
(a) pro-rata achievement of financial performance components based on the then-current annual forecast and (b) pro-rata achievement of the objectives/discretionary component at the level communicated at the conclusion of the semi-annual
measurement period, or with respect to any measurement period which has not yet been completed and communicated, achievement of the objectives/discretionary component at the level subjectively determined by the CEO (or, with respect to the CEO, the
Compensation Committee). 
 APPROVAL 
 All bonus payments made to executives will be submitted to the Compensation Committee for final approval. The Compensation Committee may adjust the final bonus amount as it deems appropriate. The
Committee has complete discretion to adjust bonus awards to reflect changes in the industry, company, the executive’s job duties or performance, or any other circumstance the Committee determines should impact bonus awards.Form of LTIP Employee Award Agreement Amendment

 Exhibit 10.1 
 [Form of LTIP Employee Award Agreement Amendment] 
 [Date] 

[Name of Award Participant] 
 Oragenics, Inc.

 4902 Eisenhower Boulevard, Suite 125 

Tampa FL 33634 
 Re:
Amendment to Equity/Long-Term Incentive Award Agreement  
 Dear [Name of Award Participant]: 

This letter agreement (this “Amendment”) is made with reference to that certain Equity/Long-Term Incentive Award
Agreement dated as of November 14, 2011 (the “Award Agreement”), each by and between Oragenics, Inc., a Florida corporation (the “Company”), and
[                    ] (the “Employee”)]. 
 Extension of Termination Date. This Amendment amends and extends the Termination Date, as defined in the Award Agreement, from December 31, 2013 to December 31, 2014. 

Additional Performance Goal Award Opportunities. This Amendment amends the performance award opportunities by adding the following
Performance Goals: 
  

	 	(ix)	Successful filing and acceptance by the FDA of an IND on first lantibiotic candidate. 

 

	 	(x)	First dose of a lantibiotic administered to a patient under an Oragenic’s sponsored clinical study. 

 

	 	(xi)	Capital raise by the Company of $12,000,000 or more in a single year. 

  

	 	(xii)	Broaden Intrexon relationship to include new area outside of lantibiotics as evidenced by a Board approved amended or new ECC Agreement that includes a new therapeutic
area. 

 The Award Percentage corresponding to particular Performance Goals added hereby are as set forth in
Table A: 
 Table A 
  

																	
	 	  	Performance Goals	 
	 	  	(ix)
Lantibiotic
IND	 	 	(x)
Human Exposure
to Lantibotic	 	 	(xi)
Company Capital
Raise	 	 	(xii)
Expand Existing 
or
Enter into
New
Collaboration
Agreement	 
	 Award Percentage
	  	 	[    	]% 	 	 	[    	]% 	 	 	[    	]% 	 	 	[    	]% 

 Except for the amendment of the Termination Date and the additional Performance Goal Award Opportunities
set forth in the preceding paragraphs, the other terms and conditions of the Award Agreements continue in effect (including, without limitation, the termination and forfeiture provisions of the Award Agreement or prior to a termination of the award
recipient’s employment or services). 
 [Remainder of page intentionally left blank] 

 If this Agreement accurately sets forth our understanding with respect to the foregoing
matters, please indicate your acceptance by signing this Agreement below and returning it to me. A duplicate copy of this Agreement is included for your records. 

 

			
	Oragenics, Inc.
		
	By:	 	  

	Print Name:	 	
	Title:	 	

  

			
	Accepted and Agreed:
	
	  

	[Name]	 	
		
	Date:

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