Summary of June 28, 2007 Revisions to Executive Compensation Bonus Plan for John Dulchinos
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Summary
This document outlines changes to the executive compensation bonus plan for John Dulchinos, President and Chief Operating Officer. It specifies his base salary, bonus targets for fiscal years 2007 and 2008, and additional benefits such as a housing allowance and group term life insurance premiums. The 2008 bonus is tied to achieving certain corporate goals, including revenue and profitability, as determined by the Board.
EX-10.1 2 ###-###-####-ex101.txt EXHIBIT 10.1 Exhibit 10.1 Summary of June 28, 2007 Revisions to Executive Compensation Bonus Plan Target Compensation Annual (aggregated Other Annual Executive Officer Base Salary basis) Compensation - ------------------------------------------------ ----------- ------------------- John Dulchinos $ 235,000 50%(1) Housing allowance President and Chief Operating Officer 0 unchanged, Group term life insurance excess premiums continue (1) Bonus for fiscal 2007 as previously approved sales commission basis per Adept's 2007 Executive Bonus Plan. 50% Bonus target for fiscal 2008 to reflect attainment of certain corporate targets, including revenue and profitability targets, and other targets to be defined by the Board.
