Exhibit 10.1
Description of Compensation
Program for Named Executive Officers
for
Fiscal Year Ending March 31,
2010
On May 27, 2009, the Company’s
Board of Directors (“Board”) of Quality Systems, Inc.
(the “Company”) acting in executive session and upon
recommendation of the Company’s Compensation Committee,
approved the Company’s 2010 Compensation Program for the
Company’s key personnel, including its named executive
officers, for the fiscal year ending March 31, 2010, which includes
new cash salary levels and both non-equity and equity incentive
compensation components as described below.
Future cash salary levels for the
Company’s named executive officers were set as
follows:
|
|
•
|
Steven Plochocki – $522,500 (increased
from $475,000), effective August 16, 2009;
|
|
|
•
|
Patrick Cline - $750,000 (increased from
$600,000), effective April 1, 2009;
|
|
|
•
|
Donn Neufeld - $236,250 (increased from
$225,000), effective June 1, 2009; and
|
|
|
•
|
Paul Holt - $288,750 (increased from $275,000),
effective July 23, 2009.
|
The non-equity incentive
compensation component for named executive officers provides as
follows:
|
|
(i)
|
for Steve Plochocki, the Company’s
President and Chief Executive Officer, cash compensation of up to
$522,500 may be earned based on meeting certain target increases in
earnings per share (“EPS”) performance and revenue
growth during the fiscal year as well as meeting certain
operational requirements established by the Board of Directors; of
the total $522,500 potential cash compensation, 40% is allocated to
the EPS performance criteria, 40% is allocated to the revenue
growth criteria and the remaining 20% is discretionary and is
allocated in part to the business performance, structuring, growth,
and operational requirements criteria as well as profitability of
the revenue cycle management business.
|
|
|
(ii)
|
for Pat Cline, the President of the
Company’s NextGen Healthcare Information Systems Division,
cash compensation of up to $750,000 may be earned based on meeting
certain target increases in EPS performance and revenue growth
during the fiscal year as well as meeting certain operational
requirements established by the Board; of the total $750,000
potential cash compensation, 33.33% is earned upon completion of
services to the Company through the period ending on the public
release of financial data for the fiscal year ending March 31,
2010; 33.33% is allocated to the EPS performance criteria, and
33.33% is allocated to the revenue growth criteria.
|
|
|
(iii)
|
for Donn Neufeld, the Executive Vi
|
|
