Semtech Corporation CEO Bonus Plan Appendix for Fiscal Year 2009
This appendix outlines the performance criteria for the Semtech Corporation CEO Bonus Plan for fiscal year 2009. It specifies how the CEO's bonus will be calculated based on the company's operating income compared to the previous year, with performance factors ranging from 0% to 250%. The CEO's target bonus is set at 125% of their annual base salary. Additionally, the appendix lists a peer group of companies and details how the CEO's bonus may be adjusted based on Semtech's revenue and earnings per share growth relative to these peers.
Exhibit 10.2
SEMTECH CORPORATION
CEO BONUS PLAN
APPENDICES
| A. | OPERATING INCOME APPENDIX FOR FISCAL YEAR 2009 |
Adopted by the Compensation Committee on June 26, 2008
| FY2009 Operating Income as a Percentage of FY2008 Operating Income | Operating Income Performance Factor | ||
| 0 to 100% | 0 | % | |
| 105% | 80 | % | |
| 119% | 90 | % | |
| 133% | 100 | % | |
| 169% | 148 | % | |
| 250% or above | 250 | % |
For purposes of this Appendix, Operating Income for each fiscal year is as determined by the Committee in accordance with Exhibit A of the Plan.
| B. | TARGET LEVEL APPENDIX |
For Fiscal Year 2009, the CEO’s Target Level is 125% of the CEO’s annual base salary.
| C. | PEER GROUP APPENDIX FOR FISCAL YEAR 2009 |
The Peer Group for Fiscal Year 2009 shall be the following companies:
Analog Devices (ADI)
Linear Technology Corp. (LLTC)
Intersil Corp. (ISIL)
Maxim Integrated Products Inc. (MXIM)
Micrel Inc. (MCRL)
Microsemi Corp. (MSCC)
National Semiconductor Corp. (NSM)
Power Integrations Inc. (POWI)
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The Performance Relative to Peers Factor for Fiscal Year 2009 will be determined according to the following table:
| Company Revenue Growth Ranking, Relative to Peer Group | Company Earnings Per Share Growth Ranking, Relative to Peer Group | Performance Relative to Peers Factor | |||
| Below 50th percentile | Below 50th percentile | 0 | % | ||
| Below 50th percentile | At or above 50th percentile | 50 | % | ||
| At or above 50th percentile | Below 50th percentile | 50 | % | ||
| At or above 50th percentile, but less than 75th percentile | At or above 50th percentile, but less than 75th percentile | 100 | % | ||
| At or above 75th percentile | At or above 50th percentile, but less than 75th percentile | 150 | % | ||
| At or above 50th percentile, but less than 75th percentile | At or above 75th percentile | 150 | % | ||
| At or above 75th percentile | At or above 75th percentile | 200 | % |
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