Jon Stoner Senior Vice President and CTO Compensation Terms Agreement

Summary

This agreement outlines the compensation terms for Jon Stoner as Senior Vice President and Chief Technical Officer. He will receive a base salary of $200,000, increasing to $210,000 on February 1, 2005, and is eligible for a bonus under the Key Manager Incentive Program. He is granted 50,000 stock options with a specified vesting schedule. Additional benefits include participation in the company's group health insurance, an annual executive physical, and a 401(k) plan with company matching contributions.

EX-10.31 7 v06073exv10w31.txt EXHIBIT 10.31 EXHIBIT 10.31 Terms of Compensation Name: Jon Stoner Title: Senior Vice President and Chief Technical Officer Base Salary: $200,000, increased to $210,000 on February 1, 2005 Bonus Plan: Eligible for participation in the company's Key Manager Incentive Program with a target payout at 50% of base salary and a maximum payout of 150% of base salary Stock Options: 50,000 shares, with an exercise price = fair market value on grant date, vesting 1/4 on the first anniversary of the grant date and an additional 1/48 monthly thereafter Health Benefits: eligible for group insurance program consisting of a hospital, surgical, major medical, life, dependent life, accidental death insurance and dental plan, and an annual executive physical 401K: company match of 50% of the employee's first 6% contribution, not to exceed 50% of the 402(g) limit