Kenexa 8-K 2007
East Swedesford Rd
Registrants telephone number, including area code: (610) 971-9171
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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On March 8, 2007, the Compensation Committee of the Board of Directors (the Compensation Committee) of Kenexa Corporation (the Company) approved the following base salaries for 2007 for certain of the Companys executive officers: Mr. Karsan, $500,000; Mr. Kanter, $400,000; Mr. Volk, $300,000; Ms. Teten, $180,000; Mr. Jones, $180,000; and Mr. Velpuri, $160,000. The Compensation Committee of the Company also approved performance objectives for certain of the Companys executive officers to be used in connection with evaluating performance and determining the annual bonus amounts payable to these officers for 2007. The bonuses for Mr. Karsan, Mr. Kanter, Mr. Volk and Ms. Teten are based in part on the Companys performance in several key areas relating to customers, as well as on 2007 pro forma levels of earnings before taxes, key areas include, among other things, income from continuing operations, customer growth and customer retention objectives. In addition, Ms. Tetens bonus is also related to the results of our marketing scorecard that includes the achievement of certain marketing metrics such as the number of trade shows the Company is asked to present at, the number of hits the Company's website receives, the level of in-bound information requests the Company receives and the number of symposiums the Company hosts. Mr. Jones bonus is based in part on the performance of the Company in several key areas relating to customers, as well as the achievement of certain objectives of the Companys acquisition strategy, including the results of operations of the acquired assets yielding positive income in the quarter following the transaction and resulting in added solutions, content or services, new geographies, or industry segments for the Company. Mr. Velpuris bonus is based in part on the performance of the Company in several key areas relating to customers, as well as the financial and operational performance during 2007 of the Companys global development center worldwide, including software development. The maximum performance bonus amounts for certain of the Companys executive officers for 2007 are as follows: Mr. Karsan, $550,000; Mr. Kanter, $400,000; Mr. Volk, $400,000; Ms. Teten, $180,000; Mr. Jones, $180,000; and Mr. Velpuri, $170,000. In addition, the Compensation Committee of the Company may pay discretionary bonuses in addition to the performance bonuses listed above.
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.