Summary of Executive Officer Compensation for Adept Technology, Inc.

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the compensation arrangements for executive officers of Adept Technology, Inc. as of the filing of its Annual Report. It details the annual base salaries, eligibility for incentive compensation under the Fiscal 2014 Management Incentive Plan, and other benefits such as health care, disability, and life insurance. The plan allows for potential cash bonuses up to 65% or 50% of base salary, depending on the executive's role. Equity awards are also provided under previously approved agreements.

Read More Arrow
EX-10.20 3 exh1020summaryofexeccomp.htm EXHIBIT 10.20 EXH1020SummaryofExecComp
EXHIBIT 10.20




Summary of Executive Officer Compensation
 
The following is a summary of the compensation of the executive officers of Adept Technology, Inc. (the “Company”) in effect as of the date of filing the Company’s Annual Report on Form 10-K.
 
Current Executive Officers
Annual Base Salary
 
Fiscal 2014 Incentive Compensation
 
Other Annual  
Compensation (3)

Rob Cain
President and Chief Executive Officer


$


325,000
 
(1)
 
Health care coverage; long-term disability and group term life insurance excess premiums
 
 
 
 
 
 
 

Terry Hannon
Chief Business Development & Strategy Officer


$


275,000
 
(2)
 
Health care coverage; long-term disability and group term life insurance excess premiums
 
 
 
 
 
 
 
 
 
 
(1)
Awards and Cash made pursuant to participation in, and subject to terms of, the Fiscal 2014 Management Incentive Plan which could result in potential cash payment of up to 65% of base salary.

(2)
Awards and Cash made pursuant to participation in, and subject to terms of, the Fiscal 2014 Management Incentive Plan which could result in potential cash payment of up to 50% of base salary.

(3)
Other benefits to be provided by the Company to the identified executive officer. Equity awards have been granted to the executive officers pursuant to option agreements and restricted stock agreements, the forms of which have been approved by the Compensation Committee and filed with the Securities and Exchange Commission.