Executive Officer Compensation Arrangements for Ditech as of July 1, 2005
This document outlines the annual salaries and additional compensation for Ditech's executive officers as of July 1, 2005. It lists the names, positions, and base salaries of key executives, along with other compensation such as health club membership fees. Executives are also eligible for 401(k) matching, life insurance premiums, miscellaneous benefits, and potential stock option grants. Bonus amounts for the upcoming fiscal year have not yet been set.
Exhibit 10.13
COMPENSATION ARRANGEMENTS WITH EXECUTIVE OFFICERS
The following are the annual salaries and other compensation of Ditech’s executive officers as of July 1, 2005.
| Name |
| Position |
| Salary |
| Other(1) |
| |
|
|
|
|
|
|
|
|
| |
| Timothy K. Montgomery |
| Chairman, Chief Executive Officer and President |
| $ | 320,000 |
| 2,000 |
|
| William J. Tamblyn |
| Executive Vice President, Chief Financial Officer and Secretary |
| $ | 220,000 |
| 2,000 |
|
| Lowell B. Trangsrud |
| Chief Operating Officer |
| $ | 220,000 |
| 2,000 |
|
| Lee H. House |
| Vice President, Platform Engineering |
| $ | 210,000 |
| 2,000 |
|
| Caglan A. Aras |
| Vice President, Marketing |
| $ | 180,000 |
| 2,000 |
|
| James H. Grady |
| Vice President, Worldwide Sales |
| $ | 195,000 |
| 2,000 |
|
(1) Consists of health club membership fees. Executive officers are also entitled to receive 401(k) matching contributions, insurance premiums on life insurance and miscellaneous perquisites. Bonus levels for fiscal 2006 have not yet been determined by the Compensation Committee.
Executive officers are also granted stock options from time to time at the discretion of the Board or Compensation Committee.
