2011 Executive Officer Cash Compensation Arrangements for NeoPhotonics Corporation
NeoPhotonics Corporation's Compensation Committee approved new annual base salaries for its executive officers, effective May 16, 2011. The agreement lists the updated salaries for the President and CEO, COO, CFO, VP of Global Sales, and VP of Product Development and Engineering. Additionally, the CEO and CFO were awarded cash bonuses of $25,000 and $12,500, respectively, for their services. This arrangement outlines the compensation terms for these executives for 2011.
EXHIBIT 10.2
2011 EXECUTIVE OFFICER CASH COMPENSATION ARRANGEMENTS
On June 23, 2011, the Compensation Committee of the Board of Directors (the “Committee”) of NeoPhotonics Corporation (the “Company”) approved an increase to the annual base salaries, effective May 16, 2011, for the following named executive officers of the Company:
| Named Executive Officer | Base Salary Effective May 16, 2011 | |||
| Timothy S. Jenks, President and Chief Executive Officer | $ | 337,920 | ||
| Dr. Raymond Cheung, Vice President and Chief Operating Officer | $ | 299,605 | ||
| James D. Fay, Vice President and Chief Financial Officer | $ | 291,840 | ||
| Benjamin L. Sitler, Vice President of Global Sales | $ | 231,424 | ||
| Dr. Wupen Yuen, Vice President of Product Development and Engineering | $ | 220,160 | ||
Approval of Compensation Arrangements for Chief Executive Officer
The Committee approved the following compensation arrangement for Mr. Timothy S. Jenks, the Company’s President and Chief Executive Officer: a bonus of $25,000 payable in cash for services performed.
Approval of Compensation Arrangements for Chief Financial Officer
The Committee approved the following compensation arrangement for Mr. James D. Fay, the Company’s Vice President and Chief Financial Officer: a bonus of $12,500 payable in cash for services performed.
