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EX-10.16 2 v28055exv10w16.htm EXHIBIT 10.16 exv10w16
Exhibit 10.16
Compensation of Named Executive Officers
The executive officers named in the summary compensation table in the proxy statement for Ixias 2006 Annual Meeting of Shareholders (the Named Executive Officers) have their base salaries determined annually by the Compensation Committee of the Board of Directors (the Compensation Committee). Such determinations ordinarily take place in the first quarter of each fiscal year and are effective as of January 1st (i.e., the first day of that fiscal year). The Named Executive Officers are all at will employees and do not have written or oral employment agreements with the Company. The Company, upon the approval of the Committee, retains the right to unilaterally decrease or increase such officers base salaries at any time during the fiscal year.
The annual base salaries for the Named Executive Officers (effective since January 1, 2006) are as follows:
Named Executive Officer | Annual Base Salary | |||
Errol Ginsberg | $ | 363,825 | ||
Chief Executive Officer and President | ||||
David Anderson | 250,000 | |||
Senior Vice President, Worldwide Sales and Business Development Operations | ||||
Robert W. Bass | 237,038 | |||
Executive Vice President, Operations | ||||
Thomas B. Miller | 235,935 | |||
Chief Financial Officer | ||||
Alan Cuellar-Amrod (resigned June 30, 2006) | 232,628 | |||
Former Vice President, Marketing |
The Named Executive Officers are also eligible to participate in the Companys incentive compensation plans, including:
(i) The Companys bonus plans; provided, however, that David Anderson, Senior Vice President, Worldwide Sales and Business Development Operations, is eligible to receive sales commission in lieu of participation in the Companys bonus plans;
(ii) The Companys Amended and Restated 1997 Equity Incentive Plan (filed as Exhibit 4.1 to the Companys Registration Statement Form S-8 (Reg. No. 333-117969) filed with the Commission on August 5, 2004); and
(iii) The Companys Employee Stock Purchase Plan (filed as Exhibit 10.3 to Amendment No. 1 to the Companys Registration Statement on Form S-1 (Reg. No. 333-42678) filed with the Commission on September 5, 2000), as amended by (1) Amendment No. 1 thereto (filed as Exhibit 4.2 to the Companys Registration Statement Form S-8 (Reg. No. 333-107818) filed with the Commission on August 8, 2003), and (2) the Supplemental Provisions thereto (filed as Exhibit 10.1 to the Companys Current Report on Form 8-K (File. No. 000-31523) filed with the Commission on April 20, 2006).