Washington | 001-37745 | 91-1628146 | ||
(State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) |
Title of each class | Trading symbol(s) | Name of each exchange on which registered | ||
Common stock, par value $0.001 per share | RNWK | The NASDAQ Stock Market | ||
Preferred Share Purchase Rights | RNWK | The NASDAQ Stock Market |
Emerging growth company | o |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o |
Exhibit No. | Description | |
10.1 | ||
REALNETWORKS, INC. | ||
By: | /s/ Michael Parham | |
Michael Parham | ||
Senior Vice President, General Counsel and Corporate Secretary |
With a focus on maintaining fiscal responsibility, the financial portion of the Plan is funded at $0.50 for every $1.00 of corporate contribution margin overachievement of budget. Individual payouts are calculated as % funded multiplied by individual bonus target multiplied by 75% weighting of financial portion of Plan. Payouts for contribution margin are dependent upon achieving a minimum of 95% of corporate revenue budget. |
Executive MBO Plan calculations and payments are completed and made after the end of the plan year with payout timing approximately 30 - 45 days after the close of the plan year. In all circumstances, any payouts that are earned in the plan period will be paid by March 15 of the following year, at the latest. |
You must be in an eligible position on the first and last day of the month to participate in the plan for that month. |
Salary, eligible position changes and/or transfers from one eligible group to another within a month will be based on status at the beginning of the month. Changes after the first day of the month will be reflected in the next month. |
In order to receive a payout from the plan you must be on the company’s payroll as of the last day of the plan year and on the company’s payroll as of the date the award is scheduled to be paid, subject to the following. If your employment terminates due to your total and permanent disability or death, you or your estate, still may, in the discretion of the Compensation Committee be eligible to receive any payout that otherwise was earned. |
Notwithstanding any other provision of the plan, the Compensation Committee may, in its sole discretion, increase (other than for an officer), reduce or eliminate a participant’s award at any time before it is paid, whether or not calculated on the basis of pre-established performance goals or formulas. |
The Compensation Committee has all power and discretion to interpret and administer the plan, including (but not limited to) the power to determine who is eligible for the plan and the size of any payouts. |
The Compensation Committee may delegate all or any part of its powers under the plan to the company’s chief executive officer or head of human resources, except that such individual may not administer the plan with respect to participants who are executive officers of the company. (For this purpose, an individual will be considered an executive officer of the company if his or her role at the company falls within the definition of “officer” under Rule 16a-1(f) promulgated under the Securities Exchange Act of 1934, as amended.) |
The Compensation Committee reserves the right to adjust targets/measurements based on acquisition or disposition of businesses/assets. |
The Section 162(m) Participants are the company’s chief executive officer, chief financial officer, and any president or executive vice president. |