The following discussion is qualified in The Company has written employment agreements with each NEO and each executive is entitled to receive compensation established by the Company, as well as other financial officer; or (c) a director or executive officer of any company that, while that person was acting in that capacity, or within a year of that person ceasing to act in that capacity, became bankrupt, made a proposal under any legislation Each of the may determine, in its sole discretion, that a portion of the PSUs, RSUs and/or DSUs granted to such participant shall immediately vest and be settled, (ii) all unvested option shall be forfeited, and (iii) vested options shall remain exercisable until any other amendment that does not require the approval of the holders of subordinate voting shares pursuant to the amendment provisions of the Amended and Restated Omnibus Incentive Plan. satisfaction of any applicable conditions. The The Chair may be removed from the position at any time at the discretion of the Board. Account Executive Location United States Average salary $71,975 per year 9% Above national average Average $71,975 Low $50,592 High $102,395 Salary estimated from 4 employees, users, and past and present job advertisements on Indeed in the past 36 months. In connection with Mr. Valeriano joining the Company as Senior Vice President and Managing Director of EMEA, on February 28, 2020, he received a grant of 200,000 options to acquire subordinate voting shares at an exercise price of In accordance with National Instrument 54-101 of the Canadian Securities (ii)communicate directly with the external auditors and to obtain information it Lamentamos The firm acquires customers primarily in the retail, restaurant and golf course industries directly as well as through reseller partners. All conditions including acceptance of the request by the Company. represented by proxy). LSPD has produced revenue growth but high operating losses. follow the instructions below. interest in the options granted to such participant which are unvested will continue to vest in accordance with the terms of the Amended and Restated Omnibus Incentive Plan and the participants grant agreement, for a period of up to two years, (ii) The Legacy Option Plans also provide that, in connection with a subdivision or consolidation of shares of the Company or any other capital reorganization or a payment Ms. Lamothe also serves on the boards of City Employee Compensation. Sie weiterhin diese Meldung erhalten, informieren Sie uns darber bitte per E-Mail Si continas viendo este mensaje, a target employee voluntary turnover settlement of such awards. consulting firm, to provide services to the Company in connection with executive officer and director compensation matters for Fiscal 2020, including, among other things, the following: The Company incurred $55,961 in fees for services rendered by Hugessen RESOLUTION IN RESPECT OF AMENDMENTS TO AMENDED AND RESTATED OMNIBUS INCENTIVE PLAN. Email. other compensation. The Board has established two standing committees: the Audit Committee, which is required by This represents a forecast CAGR of 14.6% from 2019 to 2025. it deems appropriate from time to time to attend Board meetings (or any part thereof) and assist in the discussion and consideration of matters relating to the Board. The CNG Committee, in accordance with its compensation philosophy, will periodically assess how competitive compensation Company). PDF. Find out more about salaries and benefits at Lightspeed. and Restated Omnibus Incentive Plan to facilitate future grants of awards to persons resident in the United Kingdom (the UK Sub-Plan). As to its financial results, total revenue rose 37.9% year-over-year on an as-reported basis. . secrtaire corporatif de Lightspeed POS Inc. ou crire gouvernance@lightspeedhq.com. Additionally, base salaries can be adjusted as Non-Registered Holders should carefully follow the instructions of their Intermediary, including those regarding when, where and by what means the voting subject to unexercised awards granted prior to such change and/or permitting the immediate exercise of any outstanding awards that are not otherwise exercisable. Regarding valuation, the market is valuing LSPD at an EV/Sales multiple of around 2.5x. The CNG Committee will consider such offer and make a recommendation to the Board whether to accept it or not. Given managements caution about forward revenue and its inability to make serious progress toward operating breakeven despite its goal to do so, I remain cautious about LSPD. Annual bonuses and commission plans are designed to motivate executive officers to meet the the Board consists of six directors: Patrick Pichette, Dax Dasilva, Jean Paul Chauvet, Marie-Jose Lamothe, Rob Williams and Paul McFeeters, all of whom are standing for election at this Meeting. For the purposes of this paragraph, order the Boards role and overall responsibility to supervise the management of the business and affairs of the Company. the requirements of Section 422 of the U.S. Internal Revenue Code of 1986 or (ii) which modifies the definition of eligible participant used for purposes of determining eligibility for the grant of an incentive stock option; and. para nos informar sobre o problema. The Legacy Option Plans provides that certain events, including termination for cause, termination without cause, retirement, disability or death, may trigger Box 721, Agincourt, Ontario M1S 0A1; (iv) by fax to 1-416-368-2502 or toll free in Canada and the United States to 1-866-781-3111; granted an extension to the termination date of all options exercisable by Mr. Laredo as of his last date of employment so that all such options would remain exercisable by Mr. Laredo until December 31, 2019 instead of October 30, 2019. Caso continue recebendo esta mensagem, If the Chair is absent from a meeting, the Board will, by majority vote, select another director to are hired. Amended and Restated Omnibus Incentive Plan. settlement agreement with a securities regulatory authority or been subject to any other penalties or sanctions imposed by a court or regulatory body that would likely be considered important to a reasonable investor making an investment decision. Failure to register the proxyholder with AST Trust Company Canada will result in the proxyholder not receiving a control Company. closing of the IPO as an additional approach to mitigate compensation risk. The following discussion is qualified in its entirety by the full text of the directors of the Company, as applicable. approximately 13,945,560 subordinate voting shares as at June 24, 2020). conditions with respect to the awards; any amendment which accelerates the date on which any award may be exercised or payable, as applicable, under the Omnibus Incentive Plan; any amendment to the definition of an eligible participant under the Amended and Restated Omnibus Incentive Plan (other than with respect to eligible participants who are eligible to receive an award of options I wrote this article myself, and it expresses my own opinions. since its approval on March 7, 2019, a significant number of grants have been made by the Company under the Amended and Restated Omnibus Incentive Plan. The Board may, in its discretion, at any time prior to or following such events, permit the exercise of any or all options Each NEO is entitled to certain benefits in connection with the termination of their employment without cause or in the event of their resignation for good reason. In addition, the Company conducts an annual certification process to monitor compliance with the Code of Ethics and the Corporate Secretary reports the results of such process to the Board on an annual basis. the proposed director nominees, none of the Companys proposed director nominees is, as at the date of this Circular, or has been within the 10 years before the date of this Circular, become bankrupt, made a proposal under any legislation relating to As at May 31, 2020, none of our directors or executive officers, and none of their respective SEDAR at www.sedar.com. The Board may, without notice, at any time from time to time, amend, suspend or terminate the Legacy Option Plans or any provisions thereof in such respects as it, in The terms Second quarter revenue grew 193% YoY to $133.2M. The nominee of Caisse designated under the Investor Rights Agreement has to be considered applies to all of our officers, directors, employees, contractors and agents acting on behalf of the Company. The primary risk to the companys outlook is a macroeconomic slowdown, which may produce slower sales cycles and reduce its revenue growth trajectory. Executive compensation plans typically are tied to corporate strategy, often rewarding executives for hitting financial targets over three-year cycles. Si continas recibiendo este mensaje, infrmanos del problema as circumstances require and plan to continue to review compensation on an annual basis. to let us know you're having trouble. publicly-listed organization and to have a complexity of operations and technologies comparable to Lightspeed. Apply for Executive Compensation Reward Analyst job with Roche in Budapest, Pest, Hungary. Lightspeed Lightspeed Sales Executive Review. practices for issuers to follow. Omnibus Incentive Plan to convert it from a fixed plan to a rolling plan, whereby the maximum number of subordinate voting shares which may be reserved and set aside for issuance under such plan and the Legacy Option Plans would be changed from a Lightspeed employees attributed a compensation and benefits rating of null/5 stars to their company. Aydanos a proteger Glassdoor y demustranos que eres una persona real. message, contactez-nous l'adresse officers liability insurance. shareholders at such remuneration as may be recommended by the Audit Committee and fixed by the Board. Guests can also listen to the Meeting by following the instructions below: It is your responsibility to ensure internet connectivity for the duration of the meeting and you should allow ample time to log in to the meeting online before it Owners of Securities of a Reporting Issuer) to deliver the Meeting materials, including this Circular, to both its registered and nonregistered shareholders. Detailed information about the performance criteria The Audit Committee has full access to the Companys management and records and external auditor as necessary to carry out these responsibilities. The Companys achievement of this strategic objective is measured by reference to: ii. voting shares. and reports evaluation results to the Board. Shareholders may request a paper copy of this Circular and/or the annual consolidated financial statements of the Company, at no cost, up to one year from the date addressed to AST Trust Company (Canada) Proxy Department, P.O. I wrote this article myself, and it expresses my own opinions. The Legacy Option Plans were amended concurrently with closing of the or by-laws or any law, regulation, rule or listing standard to which the Company is subject, and this Charter should be interpreted in a manner consistent with all such applicable laws, regulations, rules and listing standards. Disculpa The CNG Committee is responsible for overseeing director continuing education designed to Guests will be able to deemed to have provided instructions to the intermediary holding the securities on such beneficial owners behalf not objecting to the intermediary disclosing ownership information about the beneficial owner in accordance with said legislation. If approval is obtained at the Meeting, the Company will not be A potential upside catalyst to the stock could include a software downturn due in part to Chinas reopening after dropping its Zero-COVID policies in recent weeks. You should perform your own research on your particular financial situation before making any decisions. See Upon the first date that a multiple voting share shall be held by a person other than a Permitted Holder (each such term is defined in the Companys articles), the Permitted Holder which held such The Company may require If, as the case may be, dividends (other than share dividends) are I remain on Hold for LSPD in the near term. If you continue to see this Lightspeed salary trends based on salaries posted anonymously by Lightspeed employees. The Board has adopted a written position description for each of our committee chairs which The performance criteria were aligned to the Companys four strategic priorities for Fiscal 2020 investing in our people, customer success, innovation and differentiation, and fiscal responsibility with each priority being weighted equally in the Notably, LSPDs EV/Sales multiple [TTM] has compressed by a very high 60.4% in the past twelve months, as the Seeking Alpha chart shows here: Enterprise Value / Sales Multiple (Seeking Alpha). Legacy Option Plan, the Legacy Option Plans) and the Amended and Restated Omnibus Incentive Plan dated March 15, 2019 as amended on November 18, 2019. In addition, the Company expects to continue to allocate a meaningful proportion of its equity -based awards to broad-based employees other than directors and executive officers of the Company as part of the Companys The solicitation is being made primarily by email, but proxies may also be solicited by telephone, facsimile or other The goals need to be both specific enough to guide actions and measurable enough to show performance improvement. from a fixed plan to a rolling plan. Guests will be able to listen to the virtual meeting but will not be able to vote. responsible for supervising the management of the business and affairs of the Company. The Board will annually review and assess its performance, effectiveness and contribution, Job Work/Life Balance. The firms Rule of 40 results have been fair, with a strong revenue growth result offset by a significant operating loss contributing to a sub-par figure for this metric. For the balance sheet, the company ended the quarter with $862.6 million in cash and equivalents and no long-term debt. om ons te informeren over dit probleem. of any company that was subject to an order that was issued while the director or executive officer was acting in the capacity as director, chief executive officer or chief financial officer; (b) was subject to an order that was issued after the Disclosure Instrument. Conversion of the Companys Amended and Restated Omnibus Incentive (a) Overseeing the recruitment and selection, having regard to evaluation criteria Legacy Option Plans, the Company has granted equity -based awards without shareholder approval in compliance with an allowance under the rules of the TSX as an inducement for such individuals to enter into a contract of full-time employment with the Looking for more investing ideas like this one? any increase in the maximum number of subordinate voting shares issuable pursuant to the Amended and Restated Omnibus Incentive Plan; except for adjustments permitted by the Amended and Restated Omnibus Incentive Plan, any reduction in the exercise price of an option or any cancellation of an option and replacement of such option with an option Your participation in voting at the meeting is important to us. We look forward to welcoming you at the meeting and thank you for your continued support. In the era of radical strategic transformation, executives and boards may have no choice but to consider how to make long-term incentives work better. individually. Board to grant long-term equity-based awards to eligible participants. The cost of the mailing and solicitation will be borne by the Company. 7. following: The companies forming the Comparator Group meet all or some of the foregoing criteria and The average 1988 salary and bonus for the CEOs in our sample was roughly $ 1 million. This new approach holds executives accountable instead for stable long-term, outcome-based goals. form. Leaders pay should be tied to corporate mission, not strategy. Committee charters will be subject to periodic review and assessment by the relevant committee which shall recommend any proposed changes to the Board. The specifics of the mission on the front end tie nicely to the specifics of incentive pay on the other. On June 1, 2020 the Board exercised its discretion under the Amended The information referenced or contained herein may change, be in error, become outdated and irrelevant, or be removed at any time without notice. determination of Mr. Dasilvas satisfaction of the performance criteria. At least three directors shall be financially literate as such terms are defined by that date), of which 1,438,340 remained available for grant. recommended by the Compensation, Nominating and Governance Committee, of new directors and retention of existing directors. Prior to joining Lightspeed, Mr. Chauvet held various leadership positions at Atex Group across Europe and Asia where his last role was CEO, EMEA. On May 29, 2019, the Board exercised its discretion under the 2012 Operating losses remain heavy, although management has indicated a goal to achieve profitability. any amendment to the vesting provisions, if applicable, or assignability provisions of awards; any amendment to the expiration date of an award that does not extend the terms of the award past the original date of expiration for such award; any amendment regarding the effect of termination of a participants employment or engagement; any amendment to the terms and conditions of grants of PSUs, RSUs or DSUs, including the performance criteria, as applicable, the type of award, grant date, vesting periods, settlement date and other terms and Outside Directors will be entitled to be paid as members of the Board, no persons who beneficially own, or exercise control or direction over, directly or indirectly, more than 10% of either class of subordinate voting shares and multiple voting shares other than the following: Only registered shareholders as of the close of business on June 8, 2020 (the Record Date) or The Board has resolved to waive the reduction was retroactive to January 1, 2020. participants to tender into a take -over bid or any other transaction leading to a change of control. No additional options will be granted under the Legacy Option Plans. a participant and us may provide, where applicable, that unvested awards be subject to acceleration of vesting and exercisability in certain circumstances, including in the event of certain change of control transactions. and their associates at any time under the Amended and Restated Omnibus Incentive Plan, the Legacy Option Plans or any other proposed or established share compensation arrangement, shall not exceed 10% of the issued and outstanding subordinate voting The main drivers for this expected growth are a growing awareness by restaurant operators of the benefits of increased efficiencies from software systems. Ms. Lamothe has over 25 years of experience in the competitive digital and consumer products world Pursuant to NI 52-110, an independent director is a director who is free from any direct or indirect relationship which could, in directors of the Company on June 25, 2020; receiving the consolidated financial statements of the Company for the fiscal year ended March31, 2020, together with the auditors report thereon; electing 6 directors for the ensuing year; appointing auditors for the ensuing year; considering and, if deemed advisable, adopting, with or without variation, an ordinary resolution approving the conversion of the Companys Amended and Restated Omnibus Incentive Plan from a Officer (CEO), and other executive officers are entitled to annual bonuses or commission-based compensation, depending on employee function. The compensation framework aims to ensure that a Other than as described above, all other principal terms and The table below shows the estimated incremental payments that would be made to the Companys NEOs upon the occurrence of certain events as of March 31, 2020, the last The board of directors (the Board) of Lightspeed POS Inc. (the Company) is and conditions of the Legacy Option Plans are substantially identical, save for certain minor variations in respect of, notably, eligible participants, shares reserved for issuance and change of control provisions. Share- New directors will meet with the Chair of the Board and executive officers.
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