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Exhibit 10.60
Vertex Employee Compensation
Plan
On an annual basis in the first
quarter of the fiscal year the Management Development and
Compensation Committee of our Board of Directors adopts an employee
compensation plan for our officers and other employees, including
our named executive officers together with performance goals for
that fiscal year. The plan addresses three components of employee
compensation—base salary, performance bonus which serve as
short-term incentives and equity grants which serve as long-term
incentive—that are designed to motivate, reward and retain
employees by aligning compensation with the achievement of
strategic corporate goals as well as individual performance
objectives.
Upon completion of each performance
period (usually a calendar year), our Board of Directors assigns us
a performance rating on the basis of achievement of goals for the
company set by the Board early in the performance period. The
amount available for payment of performance bonuses is established
on the basis of this performance rating, and is allocat
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