Sherwin-Williams Selects Varicent Sales Performance Management Software to Manage Variable Compensation

TORONTO - Sherwin-Williams to roll-out broad based incentive compensation solution to 18,000 employees globally

Varicent Software, an innovator and provider of incentive compensation and sales performance management (SPM) solutions, today announced its solution, Varicent SPM, has been selected by Sherwin-Williams to manage compensation and performance for their global sales organization. The Sherwin-Williams Company is a leading manufacturer and distributor of paint, coatings and related products to professional, industrial, commercial and retail customers around the world.

Sherwin-Williams plans to implement Varicent SPM along with process improvements over the next year. Sherwin-Williams is focused on driving improvements in sales effectiveness and implementing best practices around compliance. “After a thorough evaluation, we determined Varicent was the best solution to meet our needs,” said Randy Ross, Director of Compensation, Paint Stores Group. “We liked Varicent’s comprehensive approach, and flexibility, that will allow us to be more strategic in the areas of territory management, incentive plan design, and performance analytics,” continued Ross. Sherwin-Williams plans on rolling out Varicent to more than 18,000 employees across their organization.

“Sherwin-Williams have a great vision for a complete sales performance management solution, going beyond basic incentive compensation,” said Marc Altshuller, Executive Vice President Worldwide Field Operations, Varicent. Using Varicent SPM, companies can efficiently and effectively manage and automate the process of calculating and reporting variable-based pay, providing more visibility and accountability into one of the organization’s largest variable expenses. “We are delighted to be partnered with Sherwin-Williams as they implement these significant improvements in overall sales effectiveness,” continued Altshuller.

About The Sherwin-Williams Company

Founded in 1866, The Sherwin-Williams Company is a global leader in the manufacture, development, distribution and sale of coatings and related products to professional, industrial, commercial, and retail customers. The company manufactures products under well-known brands such as Sherwin-Williams(R), Dutch Boy(R), Krylon(R), Minwax(R), Thompson’s(R) Water Seal(R), and many more.

With global headquarters in Cleveland, Ohio, Sherwin-Williams(R) branded products are sold exclusively through a chain of more than 3,000 company-operated stores and facilities, while the company’s other brands are sold through leading mass merchandisers, home centers, independent paint dealers, hardware stores, automotive retailers, and industrial distributors.

The Sherwin-Williams Global Group distributes a wide range of products in more than 30 countries around the world. For more information, visit www.sherwin.com.

About Varicent Software Incorporated

Varicent Software Incorporated delivers the most innovative sales performance management solution addressing the needs of business professionals across the entire enterprise. High performing companies relying on Varicent for better visibility and control of their complex variable compensation programs, automating the assignment of territories, the collection and approval of quotas, and reporting and analyzing sales performance include Waste Management, KLA-Tencor, AAA, Sonus Networks, Manpower, American Century Investments, Smith & Nephew, Nexient Learning, and many others.

(C)2009 Varicent Software Incorporated. All rights reserved. Varicent, Varicent SPM and Varicent Composer are trademarks of Varicent Software.

All other trademarks and company names mentioned are the property of their respective owners.

Contact: Brian Hartlen Varicent Software T: +1-416-987-1241 E: bhartlen@varicent.com

www.varicent.com

Source: Varicent Software Incorporated

Brian Hartlen of Varicent Software, +1-416-987-1241, bhartlen at varicent.com