MIPS Executive Bonus Plan Enhancement Memorandum for Maury Austin (2009)
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Summary
This memorandum from MIPS, dated October 8, 2008, confirms that Maury Austin's 2009 executive bonus plan is being enhanced to guarantee a minimum bonus equal to 20% of his salary. The bonus will be paid at the usual time, typically in August after the fiscal year ends, provided Mr. Austin is still employed by MIPS at the time of payment.
EX-10.2 2 exh102.htm MEMORANDUM exh102.htm
Exhibit 10.2
Date: October 8, 2008
To: Maury Austin
From: John Bourgoin and Ken Coleman
This is to confirm that MIPS is enhancing your fiscal year 2009 Performance-Based Bonus Plan for Executives to include a guarantee of a bonus “floor” of 20% of your salary to be paid at the normal time for bonus payouts and subject to your being employed by the company at the time of payout, typically in August after the completion of the fiscal year.
