Avanex Corporation Executive Cash Bonus Plan Description
Avanex Corporation's Board of Directors approved an Executive Cash Bonus Plan on October 31, 2004. Under this plan, certain executive officers are eligible to receive one-time cash bonuses ranging from 24% to 40% of their base salaries if they meet specific financial and operational goals set by the Board. The total amount available for these bonuses is approximately $1.1 million.
Exhibit 10.1
Description of Executive Cash Bonus Plan
On October 31, 2004, the Board of Directors of Avanex Corporation (the “Company”) adopted and approved an Executive Cash Bonus Plan. Pursuant to the Executive Cash Bonus Plan, certain executive officers of the Company may receive one-time cash bonuses of between 24% to 40% of their base salaries following the satisfaction of certain financial and operating milestones approved by the Board of Directors. The aggregate cash payments that may be paid to executive officers of the Company upon satisfaction of the financial and operating milestones pursuant to the Executive Cash Bonus Plan would be approximately $1.1 million.
