Document:

exv10w7w2

 

Exhibit 10.7.2

AMENDMENT NO. 1

TO

EMPLOYMENT AGREEMENT

     THIS AMENDMENT NO. 1, dated as of December 29, 2006, to EMPLOYMENT AGREEMENT, effective as of
the 2nd day of May, 2003 (the “Agreement”), by and between UNITED STATES LIME & MINERALS, INC., a
Texas corporation, and TIMOTHY W. BYRNE. Capitalized terms used but not defined herein shall have
the same meanings as in the Agreement.

     WHEREAS, Employer and Employee entered into the Agreement to set forth the terms and
conditions of Employee’s continued employment with Employer;

     WHEREAS, among those terms and conditions was a provision in Section 3(d)(2) of the Agreement
requiring Employer to use its best efforts to cause the Compensation Committee of the Board to
grant Employee 30,000 stock options each year as therein set forth; and

     WHEREAS, Employer and Employee agreed on December 29, 2006 to an amendment to the Agreement,
effective that date, to provide for the grant to Employee each year of 7,500 shares of restricted
stock and 7,500 options in lieu of the grant of 30,000 options provided for in Section 3(d)(2);

     NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained,
Employer and Employee hereby agree as follows:

     1. Section 3(d)(2) the Agreement is hereby amended to read in its entirety, and a new Section
3(d)(3) is hereby added, as follows:

“(2) 30,000 stock options, effective on the last business day of Employer’s fiscal
years 2004 and 2005, and 7,500 stock options on the last business day of Employer’s
fiscal year 2006 and of each fiscal year thereafter during Employee’s
employment under this Agreement, at the fair market value of a share of Employer’s
common stock on such date; and

 

 

“(3) 7,500 shares of restricted stock, effective on the last business day of
Employer’s fiscal year 2006 and of each fiscal year thereafter during Employee’s
employment under this Agreement. On the six-month anniversary of the date of grant,
3,750 of the restricted shares granted pursuant to this section shall vest. The
remaining 3,750 restricted shares shall vest on the 12-month anniversary of the date
of the grant.”

     2. Except as expressly set forth herein, this Amendment No. 1 shall not by implication or
otherwise alter, modify, amend, or in any way affect the terms and conditions set forth in the
Agreement, all of which shall remain in full force and effect and are hereby reaffirmed as if set
forth at length herein.

     3. This Amendment No. 1 may be executed in counterparts, each of which shall be deemed an
original, but all of which together shall constitute one and the same instrument.

     IN WITNESS WHEREOF, Employer and Employee have executed this Amendment

     No. 1 as of the date first set forth above.

	 	 	 	 	 	 	 
	 	 	UNITED STATES LIME & MINERALS, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Chairman, Compensation Committee
	 	 
	 
	 	 	 	 	 	 
	 	 	EMPLOYEE	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 

	 	 	 	Timothy W. Byrne	 	 

- 2 -exv10w22

 

Exhibit 10.22

Executive Incentive Bonus Plan

Overview and Purpose

Callidus’ Executive Incentive Bonus Plan was created as a means to recognize and reward the
link between the achievement of Callidus’ corporate objectives and the senior executive’s
contribution to its success. The plan is designed to motivate the senior executive team to achieve
business targets by placing compensation “at risk” based on determined target achievement. The
specific purpose of the plan is to:

	 	•	 	Align the risks/rewards for the Executive team to achieve
Callidus’ top business priorities, and
	 
	 	•	 	Motivate and retain senior executive staff by providing a
bonus structure appropriate for their level in the market and to
promote achievement of stretch goals. The plan incorporates
Callidus’ annual business strategy and a desire to motivate,
retain and competitively compensate the senior executive staff
based on achievement and/or overachievement of the annual
approved Company Business Plan.

Objective

The Executive Incentive Bonus Plan supports the Callidus compensation philosophy and guiding
principles by meeting several key objectives:

	 	•	 	Provide competitive total cash opportunities that help
attract, reward and retain top executives. Target total cash
with above market opportunities for above – plan performance.
	 
	 	•	 	Create shareholder value by establishing a direct link between
achievement of the business plan and executive rewards.
	 
	 	•	 	Create a sense of focus and accountability through the
development of specific and critical targets.
	 
	 	•	 	Align interests and objectives of shareholders and the
Executive Team to drive Callidus growth and stock appreciation.

Performance Period

The fiscal year is divided into two, six-month performance periods, January to June and July
to December, for measuring Company performance. Payout is based on achievement of agreed upon
targets established two times each year, typically January and July.

 

 

Eligibility and Participation

Chief Executive Officer and Senior Vice Presidents who are employed at the end of the
performance period are considered eligible to participate and receive an award under this plan. An
executive must be in good performance standing to be eligible for any award under this plan.
Executives who leave during the period are not eligible for a payout. Exceptions may be made by
the CEO with Compensation Committee’s approval.

Performance Measures

The Plan rewards performance as measured against Callidus’ financial performance as measured
against a pre-defined set of objectives (i.e. Targets) based on revenue generation and operating
income before stock based compensation and other income. Overall Company performance for Callidus
will be measured against the targets as approved by the Compensation Committee of the Board of
Directors. The Compensation Committee of the Board will select and approve the financial targets
based on the business priorities for the fiscal year. Exhibit A attached to the Plan provides the
approved performance targets for the first operating period under the plan.

Award Pool Funding

The first step in the process is for the Company to build a funding pool following the
measurement of the company’s performance. This pool is the amount of total dollars that are
available for incentive awards for the executive team. The Board bases the pool on Callidus’
financial performance for the year against the key targets approved in the business plan.

The Company must meet a minimum level of performance, referred to as the threshold, to initiate
funding of the financial related pool . Threshold performance is met when the Company has achieved
approximately 85 to 95% of plan based on the specific financial metrics. Company performance
represents 100% of the funding pool for the plan. For clarification targets must be met after
funding the incentives.

For purposes of illustration, assume that there are 10 executives with identical earned salaries of
$200,000 for the fiscal year. Also assume that the target award opportunity is 50% of base salary
for each position, or $100,000. Therefore, the executive bonus pool would be $1,000,000 at target
Company performance — i.e. 100% achievement of financial metrics.

	 	•	 	Funding and therefore payout is reduced on a pro-rated basis
if less than 100% of target is achieved.
	 
	 	•	 	Funding and payout accelerates based on overachievement of target.
	 
	 	•	 	No funding or payout of bonus if less than 85% of target is
achieved.
	 
	 	•	 	No cap on overachievement.

 

 

Award Payout by Position

Bonus payout targets are determined and approved at the beginning of the calendar year by the
Compensation Committee of the Board of Directors. The bonus payouts generally range from 55% -
100% based on position and market analysis.

Award Approval

Upon the close of the second and fourth quarters, the CFO reviews the financial results
against established targets with the CEO and then the Compensation Committee. Once the financial
performance has been
reviewed and approved for the period and if the Company met the window of established target
performance for the period (85%-100%), awards for the 6 month period are distributed. Each
eligible executive has a specific target incentive opportunity that is used to calculate individual
awards as noted above. Calculation is applied to base salary earned during the period.

Callidus’ Board of Directors maintain the discretion to determine any
funding of the plan if the Company’s performance does not meet the minimum
threshold

Administration

Senior Executive must be with Callidus for the entire performance period, and be in good
performance standing during the entire performance period, to be eligible for an award under the
plan. New Hire bonuses would be pro-rated with Compensation Committee and CEO approval.

Awards will be paid based on standard Payroll deadlines following when final performance is known
for the Company and the Compensation Committee has approved a payout. Incentive awards are subject
to all applicable payroll taxes.

Callidus reserves the right to modify the plan, and individual awards, at any time. You will be
notified of any plan changes.

 

 

Acknowledgement

My signature below indicates that I have received a copy of the plan and that my target
incentive opportunity has been communicated to me.

	 	 	 	 	 
	 	 	 
	 

	 	Employee Signature
	 	Date
	 
	 	 	 	 
	 
	 	 	 	 
	 	 	 
	 

	 	Manager Signature
	 	Dateexv10w21

 

EXHIBIT 10.21 SUMMARY SHEET: 2007 NON-EMPLOYEE DIRECTOR COMPENSATION PLAN

	 	1.	 	Each director shall receive an aggregate annual cash stipend of $15,000 to be paid in
quarterly installments.
	 
	 	2.	 	Each director shall receive $2,000 cash for each face-to-face meeting of the Board
attended.
	 
	 	3.	 	Each director shall receive $1,500 cash for each telephonic meeting of the Board
attended.
	 
	 	4.	 	Each board committee member shall receive $500 cash for each board committee meeting
attend in conjunction with a face-to-face board meeting.
	 
	 	5.	 	Each board member shall receive $1,500 cash for each board committee meeting attended,
whether stand alone, telephonic or face-to-face, except as noted in paragraph (4) above.
	 
	 	6.	 	The audit committee chairman shall receive an additional aggregate cash stipend of
$50,000 to be paid in quarterly installments and an additional 1,000 shares of restricted
stock.
	 
	 	7.	 	The chairman of each other committee shall receive an additional aggregate cash stipend
of $3,000 to be paid in quarterly installments.
	 
	 	8.	 	Each director shall receive annually an aggregate of 3,000 shares of restricted stock.

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