Summary of Compensation Arrangement between Agilent Technologies, Inc. and Edward W. Barnholt
Agilent Technologies, Inc. and Edward W. Barnholt have agreed to a compensation arrangement effective March 1, 2005, following Mr. Barnholt's transition from Chairman, President, and CEO to Chairman Emeritus. Under this arrangement, Mr. Barnholt will receive a $1,000,000 annual base salary, a target bonus equal to 130% of his base salary, 102,000 shares under a long-term performance program, and a stock option grant for 160,000 shares. His employment remains at-will, meaning it can be ended by either party at any time.
Exhibit 10.48
Summary of Compensation Arrangement between Agilent and Edward W. Barnholt
Effective March 1, 2005, Edward W. Barnholt stepped down from the positions of Chairman of the Board, President, and Chief Executive Officer of Agilent, and was named Chairman Emeritus. Mr. Barnholt is provided with the following compensation arrangement: (1) an annual base salary of $1,000,000; (2) a short-term target bonus of 130 percent of base salary; and (3) 102,000 shares available under the long-term performance program and a stock option grant for 160,000 shares. Mr. Barnholt’s employment is at-will.
