BSQUARE CORPORATION (NASDAQ:BSQR) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
BSQUARE Corporation Executive Bonus Plan
On March 16, 2020, upon the recommendation of its Compensation Committee (the “Committee”), the board of directors (the “Board”) of BSQUARE Corporation (the “Company”) adopted the BSQUARE Corporation Executive Bonus Plan (the “Bonus Plan”). The Bonus Plan is intended to formalize the Company’s historical practice of awarding annual bonuses to certain key executives of the Company (the “Covered Executives”) based on achievement of specified performance goals. The Board designated the Committee as the administrator of the Bonus Plan (the “Administrator”). The Administrator has the sole discretion and authority to interpret, make all determinations under, and administer the Bonus Plan.
For any annual or other performance period (the “Performance Period”), the Administrator may establish performance goals that relate to financial, operational or other performance of the Company, to individual performance objectives of the Covered Executive or to any other performance goal established by the Administrator in connection with a potential bonus payment (the “Performance Goals”). Following completion of any Performance Period, the amounts payable to each Covered Executive under the Bonus Plan will be based entirely on the determination of the Administrator regarding the level of achievement of the Performance Goals. The Administrator has authority to revise or refine the Performance Goals in its discretion.
to the Bonus Plan, the Administrator established Performance Goals for 2020 relating to segment revenues and contribution margin and working capital levels.
The foregoing description of the terms of the Bonus Plan is qualified in its entirety by reference to the Bonus Plan, a copy of which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
BSQUARE CORP /WA Exhibit
EX-10 2 bsqr-ex10_8.htm EX-10 bsqr-ex10_8.htm Exhibit 10.1 BSQUARE CORPORATION EXECUTIVE BONUS PLAN 1.Purpose This Executive Bonus Plan (this “Bonus Plan”) is intended to provide an incentive for superior work and to motivate eligible executive officers of BSQUARE Corporation (the “Company”) and its subsidiaries toward strong achievement and business results,…
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About BSQUARE CORPORATION (NASDAQ:BSQR)
BSQUARE Corporation resells software from Microsoft Corporation (Microsoft) and provides software solutions and related engineering services to companies that develop smart, connected systems. A smart, connected system is a dedicated purpose computing device that typically has a display, runs an operating system and is connected to a network or data cloud through a wired or wireless connection. Its smart, connected systems include set-top boxes, home gateways, point-of-sale terminals, kiosks, voting machines, gaming platforms, tablets, handheld data collection devices, personal media players, smart phones, smart vending machines, casino gaming machines, digital signs and in-vehicle telematics and entertainment devices. It is focused on smart, connected systems that utilize various Microsoft Windows Embedded and Windows Mobile operating systems, as well as devices running on other operating systems, such as Android, Linux and QNX. The Company operates in North America, Asia and Europe.