Document:

2011 Management Incentive Plan

 Exhibit 10.14 
 MAVENIR SYSTEMS, INC. 
 2011 MANAGEMENT INCENTIVE PLAN 

Effective March 2, 2011 

 TABLE OF CONTENTS 

 

					
	 	  	Page	 
	 1. PURPOSE 
	  	 	1	  
		
	 1.1 Purpose
	  	 	1	  
		
	 2. DEFINITIONS 
	  	 	1	  
		
	 2.1 “Administrator”
	  	 	1	  
	 2.2 “Award”
	  	 	1	  
	 2.3 “Board”
	  	 	1	  
	 2.4 “Company”
	  	 	1	  
	 2.5 “Compensation Committee”
	  	 	1	  
	 2.6 “ERISA”
	  	 	2	  
	 2.7 “Participant”
	  	 	2	  
	 2.8 “Plan”
	  	 	2	  
		
	 3. PARTICIPATION AND AWARD OPPORTUNITIES
	  	 	2	  
		
	 3.1 Award Opportunities
	  	 	2	  
	 3.2 Eligibility
	  	 	2	  
	 3.3 Payout
	  	 	3	  
		
	 4. PERFORMANCE MEASURES
	  	 	3	  
		
	 4.1 Setting Performance Measures
	  	 	3	  
		
	 5. FORM AND TIMING OF THE AWARDS
	  	 	3	  
		
	 5.1 Form of Awards
	  	 	3	  
	 5.2 Award Obligations
	  	 	4	  
		
	 6. ADMINISTRATION; ADMINISTRATIVE GUIDELINES
	  	 	4	  
		
	 6.1 Administrator
	  	 	4	  
	 6.2 Authority
	  	 	4	  
	 6.3 Employee Termination
	  	 	4	  
	 6.4 New Employees
	  	 	5	  
	 6.5 Base Salary Rate
	  	 	5	  
		
	 7. CONFIDENTIALITY OBLIGATION
	  	 	5	  
		
	 8. GENERAL PROVISIONS
	  	 	5	  
		
	 8.1 Rights of Participants
	  	 	5	  
	 8.2 Nonalienation of Benefits
	  	 	6	  
	 8.3 Prerequisites to Benefits
	  	 	6	  
	 8.4 Bonus Arrangement
	  	 	6	  
	 8.5 Powers of the Company
	  	 	6	  
	 8.6 Waiver
	  	 	6	  
	 8.7 Severability
	  	 	6	  
	 8.8 Gender, Tense and Headings
	  	 	7	  
	 8.9 Governing Law
	  	 	7	  
	 8.10 Notice
	  	 	7	  
	 8.11 Amendment and Termination
	  	 	7	  

 SCHEDULES: 
  

			
	SCHEDULE 1	  	2011 Performance Metrics

 MAVENIR SYSTEMS, INC. 

2011 MANAGEMENT INCENTIVE PLAN 
 1. 
 PURPOSE 

1.1 Purpose. The overall executive compensation strategy of the Company is to provide key executives the economic incentive
to remain with, and devote their best efforts to the business of, the Company and, in doing so, advance the interests of the Company and its shareholders. The two primary elements of the Company’s cash compensation program are base salary and
this 2011 Management Incentive Plan (the “Plan”). The base salaries generally are competitive with industry standards and are used to reward an executive’s sustained job performance over time. The Plan
rewards annual performance and is described in detail in this document. The Plan provides discretionary annual incentive compensation opportunities for key executives for achieving goals of the Company. 

2. 

DEFINITIONS 
 The following words and phrases shall have the following meanings unless a different meaning is plainly required by the context: 
 2.1 “Administrator” means the Board. Any action taken by the Administrator regarding the Plan must include the approval of a majority of the members of the
Board who are not Participants. 
 2.2 “Award” means any grant to a Participant
pursuant to the Plan. 
 2.3 “Board” means the Board of Directors of the Company.

 2.4 “Company” means Mavenir Systems, Inc., a Delaware corporation. 

2.5 “Compensation Committee” means the compensation committee of the Board. 

 2.6 “ERISA” means the Employee Retirement Income Security Act of
1974, as amended. 
 2.7 “Participant” means an employee of the Company who is
designated as a participant in the Plan by the Administrator. 
 2.8 “Performance Metrics”
means those performance metrics set forth on Schedule 1 hereto, as determined by the Administrator and as revised from time to time by the Administrator pursuant to the Plan. 

2.9 “Plan” shall have the meaning set forth in Section 1.1. 

2.10 “Weighting Factors” means those weighting factors set forth on Schedule 1
hereto, as determined by the Administrator and as revised from time to time by the Administrator pursuant to the Plan. 
 3.

 PARTICIPATION AND AWARD OPPORTUNITIES 
 3.1 Award Opportunities. Each Participant may be assigned a targeted Award, expressed as a percent of salary, that can decrease to zero, based on performance achievement. Award opportunities
under the Plan may be redefined from time to time, as modifications are made to the Company’s executive compensation strategy. The Administrator may determine at any time not to even have target Awards or an incentive program under the
Plan and may cancel Award opportunities at any time. 
 3.2 Eligibility. The Administrator shall determine
who may be Participants in the Plan and additional Participants may be added by the Administrator at any time. Generally, Participants will be selected from key executives who primarily are responsible for the annual growth and profitability of the
Company. The number of eligible Participants is expected to vary from year to year, as the Company expands and the compensation strategy and programs are refined. 

  
 -2-

 3.3 Payout. Awards will be paid at a time determined in the sole discretion of
the Administrator and will be paid only when, as and if the Administrator determines to distribute Awards. Awards under the Plan are entirely discretionary and the Administrator may determine not to pay any Awards at any time, even if all
Performance Metrics are achieved or exceeded, and for any reason, including but not limited to, if the Administrator determines that the Company does not have sufficient cash to pay Awards. To the extent the Administrator determines to
distribute Awards, such Awards will be paid no later than two and one half months following the end of the calendar year in which the determination was made. 
 4. 
 PERFORMANCE MEASURES 

4.1 Setting Performance Measures. Awards shall be tied to achievement of the Performance Metrics. 

The Administrator will determine the Performance Metrics and the Weighting Factors at the beginning of each fiscal year. Performance
Metrics may be set for an individual Participant or may be tied to overall targets for the Company, or both. Performance Metrics and Weighting Factors may be adjusted by the Administrator at any time, in its sole discretion, based on changes to the
Company’s business strategy or performance and material events related to the Company’s capital structure, such as an acquisition or capital raise by the Company. 
 In addition to the Performance Metrics, the Administrator will establish a minimum acceptable performance, or the performance level below which no Award will be paid. Awards may be payable in amount less
than or greater than targeted Award amounts based on partial achievement of Performance Metrics or achievement that exceeds the Performance Metrics, as determined by the Administrator in its sole discretion and as set forth on Schedule
1. 
 5. 
 FORM AND TIMING OF THE AWARDS 
 5.1 Form of Awards. In the
event that the Administrator has determined to distribute Awards for a particular performance period, Awards will be paid in cash to Participants no later than two and one half months following the end of the calendar year in which the determination
was made; provided, however, the Company shall deduct from all Awards payable under this Plan any taxes required to be withheld by the federal or any state or local government (including the Participant’s FICA and FUTA obligations). No
Participant shall be permitted to elect to defer all or any portion of his/her Award relating to any relevant measurement period hereunder. 

  
 -3-

 5.2 Award Obligations. All Awards payable under this Plan shall be the
obligation of the Company. If the Company determines that any person entitled to payments under this Plan is physically or mentally incompetent to receive such payments, the Company shall make such payments to the legal guardian or other personal
representative of such Participant for the use and benefit of such Participant. If the Company for any reason is unable to determine with reasonable certainty the proper person to pay pursuant to the terms of the immediately preceding sentence, the
Company shall pay any amounts due hereunder into a court of competent jurisdiction in an interpleader proceeding for purposes of being directed by such court as to the proper disposition of any such amounts due hereunder. Any such payments so made
by the Company, to the extent of the amounts thereof, shall fully discharge the Company’s obligations hereunder. Should the Participant die prior to receiving all amounts due under this Plan, any unpaid amounts due hereunder shall be made to
the Participant’s spouse, if such spouse survives the Participant, or, if there is no surviving spouse, to the legal representative of the Participant’s estate, or if no administration is had on the estate, to the person or persons to whom
Participant’s property shall pass by applicable laws of descent and distribution. 
 6. 

ADMINISTRATION; ADMINISTRATIVE GUIDELINES 
 6.1 Administrator. The Plan shall be administered by the Administrator. The Administrator may direct the Compensation Committee to make a recommendation to the Administrator regarding Awards
under the Plan. 
 6.2 Authority. The Administrator shall have the sole discretionary authority to construe and
interpret the terms of the Plan, to determine eligibility of Participants to participate in the Plan and to determine Award amounts available under the Plan, if any. The Administrator’s determination, decision or action with respect to the
construction, interpretation, administration or application of the Plan shall be final, conclusive and binding on all Participants, and shall be given maximum deference permitted by law. 

6.3 Employee Termination. A Participant must be an employee of the Company on the final day of the measurement period to be
eligible for an Award. A Participant’s eligibility for compensation under the Plan will terminate on such Participant’s last day of employment, regardless of whether such termination is voluntary or involuntary, and regardless of the date
of termination. 

  
 -4-

 6.4 New Employees. Newly hired Participants may earn Awards under this Plan on
a pro-rata basis, based on their date of employment, unless the Administrator determines otherwise. 
 6.5 Base Salary
Rate. Base salary for Award calculations shall be the annualized base rate in effect at the end of the performance cycle for which the Award is paid. 
 7. 
 CONFIDENTIALITY OBLIGATION 

This Plan is a special compensation program adopted by the Company solely for the benefit of those individuals who are designated as
Participants in the Plan. Each Participant has an affirmative obligation to maintain the confidentiality of the terms and conditions of his or her participation in the Plan, including his or her designation as a Participant in the Plan, except where
disclosure to a party is necessary because of the particular relationship the Participant shares with that party. Such parties may include the Participant’s spouse, attorney, tax or financial advisor, who, in turn, shall be advised by such
Participant that they may not disclose or communicate the terms and conditions of the Participant’s participation in the Plan. 
 8. 
 GENERAL PROVISIONS 

8.1 Rights of Participants. Nothing in this Plan shall be construed to: 

(a) Give the Participant any rights whatsoever with respect to any Award until such Award becomes vested, non-forfeitable and
distributable in accordance with the terms of this Plan; 
 (b) Limit in any way the right of the Company to terminate the
Participant’s employment by the Company at any time; 
 (c) Give the Participant or any other person any interest in any
fund or in any specific asset or assets of the Company; 
 (d) Give the Participant or any other person any interest or right
other than those of any unsecured general creditor of the Company; or 
 (e) Be evidence of any agreement or understanding,
express or implied, that the Company will employ the Participant in any particular position or at any particular rate of remuneration or for any particular period of time. 

  
 -5-

 8.2 Non-assignability of Benefits. No right or benefit under this Plan shall
be subject to anticipation, transfer, sale, assignment, pledge, encumbrance, or charge, and any attempt to anticipate, transfer, sell, assign, pledge, encumber, or charge the same will be void. 

8.3 Prerequisites to Benefits. Neither the Participant, nor any person claiming through the Participant, shall have any
right or interest in this Plan, or any Award hereunder, unless and until all the terms, conditions, and provisions of this Plan which affect the Participant or such other person shall have been complied with as specified herein. 

8.4 Bonus Arrangement. This Plan is intended to be a bonus program that is designed to provide an on-going, pecuniary
incentive for the Participant to produce the Participant’s best efforts to increase the value of the Company. This Plan is not intended to provide retirement income or to defer the receipt of payments hereunder to the termination of the
Participant’s covered employment or beyond. This Plan is strictly an incentive bonus program (as described in U.S. Department of Labor Regulation Section 2510.3-2(c) or any successor thereto), and not a pension or welfare benefit plan that
is subject to ERISA. All interpretations and determinations hereunder shall be made on a basis consistent with the status of the Plan as a bonus program. 
 8.5 Powers of the Company. The existence of outstanding and unpaid contingent interests under the Plan shall not affect in any way the right or power of the Company to make or authorize any
adjustments, recapitalization, reorganization or other changes in the Company’s capital structure or in its business, or any merger or consolidation of the Company, or any issue of bonds, debentures, common or preferred stock, if applicable, or
the dissolution or liquidation of the Company, or any sale or transfer of all or any part of its assets or business, or any other act or proceeding, whether of a similar character or otherwise. 

8.6 Waiver. A waiver by the Company, or the Participant, of any of the terms or conditions contained in the Plan shall not
be construed as a general waiver by such party of any other terms or conditions contained in this Plan. 
 8.7
Severability. If any provision or provisions of this Plan shall be found to be invalid, illegal, or unenforceable in any respect, such invalid, illegal, or unenforceable provision shall be severed from this Plan and shall not affect
the validity, legality and enforceability of the remainder of this Plan. 

  
 -6-

 8.8 Gender, Tense and Headings. Whenever the context requires, words of the
masculine gender used herein shall include the feminine and neuter, and words used in singular shall include plural. Headings of Articles and Sections, as used herein, are inserted solely for convenience and reference and constitute no part of this
Plan. 
 8.9 Governing Law. This Plan shall be subject to and governed by the laws of the State of Texas (without
regard to its conflict of law rules) and, to the extent applicable, the laws of the United States. 
 8.10 Notice.
Any notice required or permitted to be given under this Plan shall be sufficient if in writing and hand delivered, or sent by registered or certified mail, to the Administrator, the Company, Participant or beneficiary, as applicable, at the address
last furnished by such person. Such notice shall be deemed given as of the date of delivery or, if delivery is made by mail, as of the dates shown on the postmark on the receipts for registration or certification. 

8.11 Entire Agreement. This Plan, including the exhibits and schedules hereto, sets forth the entire agreement and
understanding between the Company and each Participant relating to the subject matter hereof and supersedes and merges all prior discussions, agreements and understandings, both written and oral, between the Company and each Participant with respect
to the subject matter hereof. 
 8.12 No Individual Liability. No member of the Board of Directors, or any officer
of the Company, shall be liable for any determination, decision or action made in good faith with respect to the Plan or any payment under the Plan. 
 8.13 Amendment and Termination. The Administrator may at any time amend, alter, suspend, supersede or terminate the Plan for any reason, at any time, and in its sole discretion. 

  
 -7-

 SCHEDULE 1 

Weighting Factors 
  

													
	 Factors
	  	Objective	 	 	VP weighting	 	 	CEO Weighting	 
	 Orders
	  	$	40,000K	  	 	 	30	% 	 	 	30	% 
	 Revenue
	  	$	29,971K	  	 	 	30	% 	 	 	30	% 
	 EBITDA
	  	 	($4,221K	) 	 	 	30	% 	 	 	20	% 
	 MBO
	  				 	 	10	% 	 	 	20	% 

 2011 Performance Metrics 

 

																																																													
	 New Orders ($K)
	 				 				 				 				 				 				 				 				 				 				 				 				 				 				 			
	 2011 (% Achievement)
	 	 	<67.5	% 	 	 	67.5	% 	 	 	75	% 	 	 	80	% 	 	 	85	% 	 	 	90	% 	 	 	95	% 	 	 	100	% 	 	 	105	% 	 	 	110	% 	 	 	115	% 	 	 	120	% 	 	 	125	% 	 	 	130	% 	 	 	>130	% 
	 2011 Target $s
	 				 	$	27,000	  	 	$	30,000	  	 	$	32,000	  	 	$	34,000	  	 	$	36,000	  	 	$	38,000	  	 	$	40,000	  	 	$	42,000	  	 	$	44,000	  	 	$	46,000	  	 	$	48,000	  	 	$	50,000	  	 	$	52,000	  	 			
	 Bonus Payout
	 	 	0	% 	 	 	40	% 	 	 	50	% 	 	 	60	% 	 	 	70	% 	 	 	80	% 	 	 	90	% 	 	 	100	% 	 	 	110	% 	 	 	120	% 	 	 	130	% 	 	 	150	% 	 	 	175	% 	 	 	200	% 	 	 	200	% 
																
	 Revenue ($K)
	 				 				 				 				 				 				 				 				 				 				 				 				 				 				 			
	 2011 (% Achievement)
	 				 				 	 	<80	% 	 	 	80	% 	 	 	85	% 	 	 	90	% 	 	 	95	% 	 	 	100	% 	 	 	105	% 	 	 	110	% 	 	 	115	% 	 	 	120	% 	 	 	125	% 	 	 	130	% 	 	 	>130	% 
	 2011 Target $s
	 				 				 				 	$	23,977	  	 	$	25,475	  	 	$	26,974	  	 	$	28,472	  	 	$	29,971	  	 	$	31,470	  	 	$	32,968	  	 	$	34,467	  	 	$	35,965	  	 	$	37,464	  	 	$	38,962	  	 			
	 Bonus Payout
	 				 				 	 	0	% 	 	 	50	% 	 	 	65	% 	 	 	80	% 	 	 	90	% 	 	 	100	% 	 	 	110	% 	 	 	120	% 	 	 	130	% 	 	 	150	% 	 	 	175	% 	 	 	200	% 	 	 	200	% 
																
	 EBITDA
	 				 				 				 				 				 				 				 				 				 				 				 				 				 				 			
	 2011 (% Achievement)
	 				 	 	<75	% 	 	 	75	% 	 	 	80	% 	 	 	85	% 	 	 	90	% 	 	 	95	% 	 	 	100	% 	 	 	105	% 	 	 	110	% 	 	 	115	% 	 	 	120	% 	 	 	125	% 	 	 	130	% 	 	 	>130	% 
	 2011 Target $s
	 				 				 	$	(6,500	) 	 	$	(6,000	) 	 	$	(5,500	) 	 	$	(5,000	) 	 	$	(4,500	) 	 	$	(4,221	) 	 	$	(3,500	) 	 	$	(3,000	) 	 	$	(2,500	) 	 	$	(2,000	) 	 	$	(1,500	) 	 	$	(1,000	) 	 			
	 Bonus Payout
	 				 	 	0	% 	 	 	50	% 	 	 	60	% 	 	 	70	% 	 	 	80	% 	 	 	90	% 	 	 	100	% 	 	 	115	% 	 	 	125	% 	 	 	140	% 	 	 	150	% 	 	 	175	% 	 	 	200	% 	 	 	200	% 

 MBO FOR CEO 

 

	1.	Operating cashflow target—achieve budget objective of ($10.2M) 

  

	2.	Achieve penetration into Europe as demonstrated by the winning of a new tier 1 customer that issues a purchase order to Mavenir for a minimum of $500K (can be through
channel) 

  

	3.	Develop and have approved business plan to prepare Mavenir for a public liquidity event within 24 months2012 Executive Bonus Plan

 Exhibit 10.15 

 
 

 
 2012 Executive Bonus Plan (EBP) 

Document Version: 1a 
 

 
  

			
	Company Confidential	  	Document Version: 1a
	Draft Date: 28/11/2012	  	

			
	 2012 Executive Bonus
	  	

  

 For more information on Mavenir Systems, visit our Web site: 

http://www.mavenir.com/ 
 Every reasonable
effort has been made to ensure the information and procedures detailed in this document are complete and accurate at the time of printing. However, information contained in this document is subject to change without notice. 

© 2011 Mavenir Systems Inc. 

  

			
	 Company Confidential
	  	Document Version: 1a
	 Print Date: 20/08/2012
	  	

			
	 2012 Executive Bonus
	  	

  

 Contents 
  

					
	 1 Introduction
	  	 	1	 
	 1.1 Document Goal
	  	 	1	 
	 1.2 Intended Audience
	  	 	1	 
	 1.3 Objective
	  	 	1	 
	 1.4 Plan Administration
	  	 	1	 
	 1.5 Glossary
	  	 	1	 
	 2 Eligibility
	  	 	2	 
	 2.1 EBP Ranges
	  	 	2	 
	 3 Plan Components
	  	 	4	 
	 3.1 Maximum EBP Potential
	  	 	4	 
	 3.2 Business Targets
	  	 	4	 
	 3.2.1 Pro-rated achievement and thresholds
	  	 	4	 
	 3.2.1 Graphs showing %s for pro rata achievement
	  	 	5	 
	 Graph to show % of MBP allocated for different Revenue Achievements
	  	 	5	  
	 Graph to show % of MBP allocated for different Operatign Income Achievements
	  	 	5	  
	 3.3 Individual performance - Management Objectives
	  	 	6	 
	 4 Payment Calculation
	  	 	7	 
	 4.1.1 Example 1
	  	 	7	 
	 4.1.2 Example 2
	  	 	7	 
	 4.1.3 Example 3
	  	 	8	 
	 4.1.4 Example 4
	  	 	8	 
	 5 Bonus Payments
	  	 	9	 
	 6 General Provisions
	  	 	10	 
	 6.1 Employment
	  	 	10	 
	 6.2 Tax & Social Security Liabilities
	  	 	10	 
	 6.3 Modifications, Suspension or Termination
	  	 	10	 
	 6.4 Terminations
	  	 	10	 
	 6.5 Events
	  	 	10	 
	 6.6 Other Agreements
	  	 	10	 
	 6.7 Administrative Guidelines
	  	 	10	 

  

			
	 Company Confidential
	  	i
	 Print Date: 20/08/2012
	  	

			
	 2012 Executive Bonus
	  	

  

 Document History 

 

							
	 Issue
	 	 Date
	 	 Change summary
	 	 Owner

	 1a
	 	14/05/2012	 	First Version of 2012 Executive Bonus Plan	 	Carolyn Turner

 Changes since last issue 
  

							
	 Document control
	  		  		  	
				
	 Owner:
	  	Carolyn Turner	  	Approver:	  	Terry Hungle
	 Owner title:
	  	VP Human Resources	  	Approver title:	  	CFO
	 Doc file name:
	  	Mavenir Executive Bonus Plan.doc	  		  	
	 Document date:
	  	14th May 2012	  		  	

  

			
	 Company Confidential
	  	ii
	 Print Date: 20/08/2012
	  	

			
		  	

  

	1	Introduction 

  

	1.1	Document Goal 

 This
document defines the details of the Mavenir Systems 2012 Bonus Plan (Plan) for Executives. 
  

	1.2	Intended Audience 

 All
Executives whose contractual terms & conditions indicate that they are eligible to participate in the Plan. 
  

	1.3	Objective 

 The aim of the
Plan is to link individual and company performance to remuneration in order to foster a high performance environment. And it encourages individuals to focus on what they can influence whilst keeping any payments aligned with the overall financial
success of the Company. 
  

	1.4	Plan Administration 

 The
Plan shall be administered by a bonus committee consisting CEO, CFO and VP Human Resources. The Committee in its sole discretion shall determine the calculation of payments awarded as described herein. All decisions of the committee are final and
binding. 
 EBP payments are made on an annual basis according to the Company’s and the Individual’s performance. The
fact EBP payments are paid in one year sets no precedent that they will be paid in subsequent years. 
 All EBP payments are
discretionary and subject to Board approval. The Company reserves the right to alter this plan, including the level of any payout, at any time. 
  

	1.5	Glossary 

 Table 1 Document
Glossary 
  

			
	 Item
	  	 Definition

	 CEO
	  	Chief Executive Officer of the Company
	 CFO
	  	Chief Financial Officer of the Company
	 EBP
	  	2012 Executive Bonus Plan
	 MBP
	  	Maximum Bonus Potential
	 IP
	  	Individual Performance against Management Objectives
	 Company
	  	Mavenir Systems, Inc.
	 HRO
	  	Human Resources Office
	 Participant
	  	A person eligible to participate in the Plan

  

			
	 Company Confidential
	  	1
	 Print Date: 20/08/2012
	  	

			
	 2012 Executive Bonus
	  	

  

	2	Eligibility 

 Staff
classified as Executives by the Board are eligible for the Plan. If so, eligibility will be defined in the contractual terms and conditions of the employee. 
 Eligibility in a previous calendar year sets no precedent for eligibility in any future calendar year. 
 The VP Human Resources is responsible for establishing lists of eligible employees and sending them an information letter detailing starting date and incentive range for each calendar year. All eligible
executives in a given calendar year will be notified in writing. 
 The Plan is payable to all eligible employees who are
(actively) on payroll and have not tendered their resignation prior to the date the payment is made for the reference year. Any employee leaving the Company before the payment date is not eligible for EBP payment for the previous reference year.

 The EBP bonus is pro-rated over the eligibility period for complete months worked in the reference
year, i.e. should an employee become EBP eligible on March 10th, the EBP would be calculated based on 9 months of annual EBP entitlement. 
 Sales
and Business Development Executives are not eligible for the EBP. They are compensated via the Sales Incentive Plan (SIP)  
 Bonus schemes are mutually exclusive. No employee can be eligible for a full EBP and full SIP. However, dual EBP/SIP arrangements may be put in place for certain roles. In such instances the details will
be confirmed in writing to the individual. 
  

	2.1	EBP Ranges 

 Maximum EBP
amounts vary by position usually varying between 15% and 30% of annual base salary as determined by an individual’s contractual terms and conditions. The Board are responsible for agreeing EBP ranges for executives. 

The EBP range depends on role, organizational level of the employee and local market practices. 

  

			
	 Company Confidential
	  	2
	 Print Date: 20/08/2012
	  	

			
	 2012 Executive Bonus
	  	

  

	3	Plan Components 

 The
breakdown of the Plan components for executives are as follows: 
  

	 	•	 	 The eligible employee’s Maximum Bonus Potential amount (MBP) 

 

	 	•	 	 Business Revenue Achievements (RA) and Operating Income Achievements (OIA) 

 

	 	•	 	 Individual Performance (IP) against management objectives 

 

	3.1	Maximum EBP Potential 

 For EBP payment calculations, Maximum Bonus Potential (MBP) in local currency is as specified in the eligible employee’s employment terms and conditions and any % based on the employee’s base
compensation as of 31st December of the reference
year. 
  

	3.2	Business Targets 

Business targets and performance against Management objectives are used as factors in calculating the EBP payment. Components are

  

	 	•	 	 Revenue Achievement (RA) 

  

	 	•	 	 Operating Income Achievement (OIA) 

  

	 	•	 	 Performance Against Management Objectives (IP) 

 Table 2 Weightings of components and targets 
  

									
	 Achievement
	  	Percentage of MBP	 	 	2012 Target	 
	 Annual revenue target
	  	 	50	% 	 	US$	90m	  
			
	 Operating Income
	  	 	30	% 	 	US$	3m	  
	 Management Objectives
	  	 	20	% 	 			

  

	 	3.2.1	Pro-rated achievement and thresholds 

 Achievement of the Revenue target would result in 50% of the MBP being allocated for payment. 
 Achievement of the Operating Income target would result in 30% of the MBP being allocated for payment. 
 There are minimum thresholds for payment against revenue and operating income achievement. 
  

	 	•	 	 Minimum revenue threshold for payment = 90% of revenue target (i.e. $81M for 2012) 

 

	 	•	 	 Minimum Operating income threshold for payment = $1 

 Achievement of minimum threshold pays 0.5 of the associated MBP %s , i.e. 25% for revenue and 15% for operating income. Payment increases linearly from these levels to 100% achievement of target.

  

			
	 Company Confidential
	  	4
	 Print Date: 20/08/2012
	  	

			
	 2012 Executive Bonus
	  	

  

 < 90% achievement of the revenue target will result in no payment for revenue
achievement being allocated. 
 Achievement of <$1 operating income will result in no payment for operating income achievement
being allocated. 
 Payment for between 100% and 120% achievement of the revenue target (i.e. for 2012 between US$90m and
US$108m) is calculated on a linear pro rata basis from 100% subject to a maximum threshold of 200% for 120% of revenue achievement. A revenue achievement of >=120% (i.e. >= US$108m for 2012) would result in double the revenue % of MBP being
allocated.(i.e. 100%) 
 Payment for >100% achievement of the operating income target is calculated on a linear pro rata basis
from 100% subject to a maximum threshold of 200% achievement. A operating income achievement of >=200% (i.e >= US$6m for 2012) would result in double the operating income % of MBP being allocated. (i.e. 60%). 

 

	 	3.2.1	Graphs showing %s for pro rata achievement 

 Graph to show % of MBP allocated for different Revenue Achievements 
  

 
 Graph to show % of MBP allocated for different Operating Income Achievements 

 
 

 

  

			
	 Company Confidential
	  	5
	 Print Date: 20/08/2012
	  	

			
	 2012 Executive Bonus
	  	

  

	3.3	Individual performance—Management Objectives 

 At the beginning of each year between 2 and 4 objectives will be agreed in writing with each executive and approved by the Board. At the end of each financial year % achievement against these objectives
(IP) will be judged by CEO and CFO. 
 The maximum individual achievement factor is 20%. The minimum achievement factor is 0%.

  

			
	 Company Confidential
	  	6
	 Print Date: 20/08/2012
	  	

			
	 2012 Executive Bonus
	  	

  

	4	Payment Calculation 

 For
a given year an individual’s annual EBP payment is calculated as follows: 
 EBP Payment = MBP * (RA%+OIA% +IP%) 

Where: 
 MBP =
Maximum Bonus Potential 
 RA% = Revenue achievement % 
 OIA% = Operating Income achievement % 
 IP% = % awarded for individual achievement
of management objectives 
 The Revenue and Operating Income figures will be as published for end of year accounts. 

Some examples calculations are given below—it may help to refer to the graphs shown in section 3.2.1. 

Example 1 

Table 3 Example 1 
  

			
	 Criteria
	  	 Figures

	 Maximum Bonus Potential (MBP)
	  	$10,000
	 Revenue achieved (RA)
	  	US$99m (110% of target)
	 Revenue achievement % paid (RA%)
	  	75%
	 Operating Income achieved (OI)
	  	US$3.75m (125% of target) gives factor =1.25
	 Operating Income achievement % (OI%)
	  	1.25*30%=37.5%
	 Individual Achievement against MBOs (IP)
	  	16% (80%of 20)
	 Bonus calculation
	  	10,000 * (75%+37.5%+ 16%)
	 Bonus paid
	  	US$12850

  

	 	4.1.1	Example 2 

 Table 4
Example 2 
  

			
	 Criteria
	  	 Figures

	 Maximum Bonus Potential (MBP)
	  	$10,000
	 Revenue achieved (RA)
	  	US$81m (90% of target)
	 Revenue achievement % (RA%)
	  	0.5 * 50%= 25%
	 Operating Income achieved (OI)
	  	US$0m
	 Operating Income achievement % (OI%)
	  	0
	 Individual Achievement against MBOs (IP)
	  	15% (75% of 20%)
	 Bonus calculation
	  	10,000 * (25%+0% + 15%)
	 Bonus paid
	  	US$4,000

  

			
	 Company Confidential
	  	7
	 Print Date: 20/08/2012
	  	

			
	 2012 Executive Bonus
	  	

  

	 	4.1.2	Example 3 

 Table 5
Example 3 
  

			
	 Criteria
	  	 Figures

	 Maximum Bonus Potential (MBP)
	  	$10,000
	 Revenue achieved (RA)
	  	US$85.5m (95% of target)
	 Revenue achievement % paid (RA%)
	  	37.5%
	 Operating Income achieved (OI)
	  	US$2.25m (75% of target)
	 Operating Income achievement % (OI%)
	  	26.25%
	 Individual Achievement (IP)
	  	10%(50% of 20%)
	 Bonus calculation
	  	10,000 * (37.5%+26.25%+10%)
	 Bonus paid
	  	US$7,375

  

	 	4.1.3	Example 4 

 Table 6
Example 4 
  

			
	 Criteria
	  	 Figures

	 Maximum Bonus Potential (MBP)
	  	$10,000
	 Revenue achieved (RA)
	  	US$225m (250% of target)
	 Revenue achievement % paid (RA%)
	  	2 * 50% = 100%
	 Operating Income achieved (OI)
	  	US$6m (200% of target)
	 Operating Income achievement % (OI%)
	  	2 * 30% = 60%
	 Individual Achievement (IP)
	  	18% (90% of 20%)
	 Bonus calculation
	  	10,000 * (100%+60%+18%)
	 Bonus paid
	  	US$17,800

  

			
	 Company Confidential
	  	8
	 Print Date: 20/08/2012
	  	

			
	 2012 Executive Bonus
	  	

  

	5	Bonus Payments 

 EBP
payments are made after the previous year’s financial results have been confirmed and the Board has approved the associated EBP payments. Payments are targeted to be made in the February payroll but this is not guaranteed. 

All EBP payments are subject to Board approval. There is no entitlement to payout for pro-rated achievement. 

  

			
	 Company Confidential
	  	9
	 Print Date: 20/08/2012
	  	

			
	 2012 Executive Bonus
	  	

  

	6	General Provisions 

  

	6.1	Employment 

 This Plan
shall not be construed to create a contract of employment between the Company and the Plan Participant. This Plan does not replace or modify any components of the Plan Participant’s individual Employment Agreement with the Company. 

 

	6.2	Tax & Social Security Liabilities 

 Deductions for tax and social security liabilities will be calculated and withheld from all commissions, bonuses, and other incentives as appropriate to country and/or local requirements. 

 

	6.3	Modifications, Suspension or Termination 

 The CEO of Mavenir Systems reserves the right to modify, suspend, or terminate this plan, in writing, without advance notice to Plan Participants. 

 

	6.4	Terminations 

 When a Plan
participant’s employment is terminated by the Company without cause after the end of the reference year but prior to the payment of EBP payments for the year any amount due to the Plan participants will be calculated and paid as per the terms
of the Plan. 
  

	6.5	Events 

 Any event not
previously described or anticipated by this plan will be reviewed by the CEO of Mavenir Systems. 
  

	6.6	Other Agreements 

 The
Plan, including any amendment hereto, constitutes the entire understanding of the Company and the Plan Participant with respect to bonus incentives and cancels and supersedes all other agreements relating to such compensation. 

 

	6.7	Administrative Guidelines 

If any provision of the Plan is found to be void or unenforceable by a Court of Law, it shall be amended or deleted and the remainder of
the Plan shall remain in full force and effect. 

  

			
	 Company Confidential
	  	10
	 Print Date: 20/08/2012

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00222-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00222-of-00352.parquet"}]]