Document:

exv10w06

 

	 	 	 	 	 

Exhibit 10.06

	 	 	 
	To:

	 	Michael E. (Mick) Mazour
	From:

	 	WSTC Comp. Committee
	Date:

	 	March 13, 2006
	 
	 	 
	Re:

	 	2006 Compensation Plan – Exhibit A

 

The compensation plan for 2006 while you are employed as President of West Business Services, LP is
outlined below:

	1.	 	Your base salary will be $275,000.00. Should you elect to voluntarily terminate your
employment, you will be compensated for your services as an employee through the date of your
actual termination per your Employment Agreement.

	2.	 	You are eligible to earn up to a $200,000 annual performance bonus for achieving West
Business Services, LP’s bonus objective in Net Operating Income before corporate allocations
(“Bonus NOI”). The percent of objective achieved will apply to this bonus calculation, but
will not exceed a total of $200,000 for the year. Up to $37,500 of this bonus will be
available to be paid quarterly and trued up annually.

	3.	 	You are eligible to receive an additional bonus for NOI in excess of your bonus objective.
You will earn $20,000 for each $1,000,000 that Bonus NOI exceeds your Bonus NOI objective.
This bonus will be calculated at the end of the 2006 plan year and will be paid no later than
February 28, 2007.

	4.	 	In addition, if West Corporation achieves its 2006 Net Income objective, you will be eligible
to receive an additional one-time bonus of $50,000. This bonus is not to be combined or netted
together with any other bonus set forth in this agreement.

	5.	 	You will be paid the amount due for any quarterly bonuses within thirty (30) days after the
quarter ends, except for the 4th Quarter and annual true-up amounts which will be
paid no later than February 28, 2007.

	6.	 	All objectives are based upon West Business Services, LP and West Corporation operations and
will not include profit and income derived from mergers, acquisitions, joint ventures or other
non-operating income unless specifically and individually approved by West Corporation’s
Compensation Committee.

	7.	 	At the discretion of executive management, you may also receive an additional bonus based on
your individual performance. This bonus is not to be combined or netted together with any
other bonus set forth in this agreement.

	8.	 	The benefit plans, as referenced in Section 7(i), shall include insurance plans based upon
eligibility pursuant to the plans. If the insurance plans do not provide for continued
participation, the continuation of benefits shall be pursuant to COBRA. In the event
Employee’s benefits continue pursuant to COBRA and Employee accepts new employment during the
consulting term, Employee may continue benefits thereafter to the extent allowed under COBRA.
In no event shall benefits plans include the 401K Plan or the 1996 Stock Incentive Plan.

	 	 	 	 	 
	 	 	 
	 	                                                 /s/ Mick Mazour
 	 
	 	Michael E. (Mick) Mazourexv10w07

 

	 	 	 	 	 

Exhibit 10.07

	 	 	 
	To:

	 	Paul M. Mendlik
	From:

	 	WSTC Comp. Committee
	Date:

	 	March 13, 2006
	 
	 	 
	Re:

	 	2006 Compensation Plan – Exhibit A

 

The compensation plan for 2006 while you are employed as Chief Financial Officer for West
Corporation is outlined below:

	  1.	 	Your base salary will be $385,000.00. Should you elect to voluntarily terminate your
employment, you will be compensated for your services as an employee through the date of your
actual termination per your Employment Agreement.

	  2.	 	Effective January 1, 2006, you will be eligible to receive a performance bonus based on
consolidated adjusted net income growth for West Corporation in 2006. Net income for each
quarter will be compared to the same quarter in the previous year. Non cash expenses resulting
from expensing options as a result of any amendments to FASB 123R will be excluded from this
calculation to determine adjusted net income (“ANI”). Each $1M increase of ANI over 2005 ANI
will result in a $20,000 bonus. 75% of the quarterly bonus earned will be paid within thirty
(30) days from the end of the quarter. 100% of the total bonus earned will be paid within
thirty (30) days of the final determination of 2006 ANI.
	 
	     	 	Should ANI exceed $169M for the year, you will eligible to receive $25,000 for every $1M of
ANI above that threshold.
	 
	     	 	Please note that if there is a negative year-to date profit calculation at the end of any
quarter, this will result in a “loss carry forward” to be applied to the next quarterly or
year-to-date calculation.

	  3.	 	All ANI objectives are based upon West Corporation operations and will not include net income
derived from mergers or acquisitions unless specifically and individually approved by West
Corporation’s Compensation Committee.

	  4.	 	At the discretion of management, you may receive an additional bonus based on the Company’s
and your individual performance.

	  5.	 	The benefit plans, as referenced in Section 7(i), shall include insurance plans based upon
eligibility pursuant to the plans. If the insurance plans do not provide for continued
participation, the continuation of benefits shall be pursuant to COBRA. In the event
Employee’s benefits continue pursuant to COBRA and Employee accepts new employment during the
consulting term, Employee may continue benefits thereafter to the extent allowed under COBRA.
In no event shall benefits plans include the 401K Plan or the 1996 Stock Incentive Plan.

	 	 	 	 	 
	 	 	 
	 	     /s/ Paul M. Mendlik
 	 
	 	Employee – Paul M. Mendlikexv10w08

 

	 	 	 	 	 

Exhibit 10.08

	 	 	 
	To:

	 	James F. Richards
	From:

	 	WSTC Comp. Committee
	Date:

	 	March 13, 2006
	 
	 	 
	Re:

	 	2006 Compensation Plan – Exhibit A

 

The compensation plan for 2006 while you are employed as President of West Asset Management, Inc.
is below:

	1.	 	Your base salary will be $350,000.00.

	2.	 	You are eligible to earn up to a $300,000 annual performance bonus for achieving WAM’s
objective in Net Operating Income before corporate allocations. The percent of plan achieved
will apply to this bonus calculation, but will not exceed a total of $400,000 for the year. Up
to $56,250 of this bonus will be available to be paid quarterly and trued up annually.

	3.	 	An additional one-time bonus will be earned for achieving a CPS rating, as a Top 5 provider,
on the 2004 Ed contract per the table below:

	 	 	 	 	 
	Top 5 by September 30, 2006

	 	$	150,000	 
	Top 5 by December 31, 2006

	 	$	100,000	 

	4.	 	In addition, if West Corporation achieves its 2006 Net Income objective, you will be eligible
to receive an additional one-time bonus of $100,000. This bonus is not to be combined or
netted together with any other bonus set forth in this agreement.

	5.	 	You will be paid the amount due for any quarterly bonuses within thirty (30) days after the
quarter ends, except for the 4th Quarter and annual true-up amounts which will be
paid no later than February 28, 2007.

	6.	 	All objectives are based upon West Asset Management, Inc. and West Corporation’s operations
and will not include profit and income derived from mergers, acquisitions, joint ventures,
stock buybacks or other non-operating income unless specifically and individually approved by
West Corporation’s Compensation Committee.

	7.	 	At the discretion of executive management, you may also receive an additional bonus based on
your individual performance. This bonus is not to be combined or netted together with any
other bonus set forth in this agreement.

	 	 	 	 	 
	 	 	 
	 	            /s/ James F. Richards
 	 
	 	Employee – James F. Richardsexv10w09

 

	 	 	 	 	 

Exhibit 10.09

	 	 	 
	To:

	 	Steven M. Stangl
	From:

	 	WSTC Comp. Committee
	Date:

	 	March 13, 2006
	 
	 	 
	Re:

	 	2006 Compensation Plan – Exhibit A

 

The compensation plan for 2006 while you are employed by West Corporation as President of West
Communication Services (West Telemarketing, LP, West Business Services, LP, West Interactive
Corporation, West Direct, Inc.) is outlined below:

	1.	 	Your base salary will be $400,000.00. Should you elect to voluntarily terminate your
employment, you will be compensated for your services as an employee through the date of your
actual termination per your Employment Agreement.

	2.	 	You will also be eligible to earn up to $350,000 for achieving pre-tax Net Income bonus
objective for the Communication Services segment. The percent of bonus objective achieved will
apply to the bonus calculation, but will not exceed a total of $350,000. Up to $65,625 of this
bonus will be available to be paid quarterly and trued up annually.

	3.	 	You are eligible to receive an additional bonus for Net Income in excess of the above
objective. The bonus will be calculated by multiplying the excess Net Income after corporate
allocations times .02. This bonus will be calculated at the end of the 2006 plan year and will
be paid no later than February 28, 2007.

	4.	 	In addition, if West Corporation achieves its 2006 Net Income objective, you will be eligible
to receive an additional one-time bonus of $100,000. This bonus is not to be combined or
netted together with any other bonus set forth in this agreement.

	5.	 	You will be paid the amount due for any quarterly bonuses within thirty (30) days after the
quarter ends, except for the 4th Quarter and annual true-up amounts, which will be
paid no later than February 28, 2007.

	6.	 	All objectives are based upon West Corporation operations and will not include net income
derived from mergers, acquisitions, joint ventures, stock buy backs or other non-operating
income unless specifically and individually approved by West Corporation’s Compensation
Committee.

	7.	 	At the discretion of executive management, you may also receive an additional bonus based on
your individual performance. This bonus is not to be combined or netted together with any
other bonus set forth in this agreement.

	8.	 	The benefit plans, as referenced in Section 7(i), shall include insurance plans based upon
eligibility pursuant to the plans. If the insurance plans do not provide for continued
participation, the continuation of benefits shall be pursuant to COBRA. In the event
Employee’s benefits continue pursuant to COBRA and Employee accepts new employment during the
consulting term, Employee may continue benefits thereafter to the extent allowed under COBRA.
In no event shall benefits plans include the 401K Plan or the 1996 Stock Incentive Plan.

	 	 	 	 	 
	 	 	 
	 	     /s/ Steven M. Stangl
 	 
	 	Employee – Steven M. Stangl

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