Executive Officer Summary Compensation Sheet
Contract Categories:
Human Resources
- Compensation Agreements
EX-10.40 2 dex1040.htm EXECUTIVE COMPENSATION SUMMARY Executive Compensation Summary
Exhibit 10.40
Executive Officer Summary Compensation Sheet
Annual Cash Compensation for Senior Executive Officers
The annual cash compensation for Executive Officers of Rackable Systems, Inc. as of January 1, 2006, was as follows:
| Executive Officer | Annual Base Salary ($) | Annual Target Bonus ($) | ||||
| Thomas K. Barton | $ | 340,000 | $ | 175,000 | ||
| President and Chief Executive Officer | ||||||
| Todd R. Ford | 260,500 | 100,000 | ||||
| Executive Vice President of Operations and Chief Financial Officer | ||||||
| Giovanni Coglitore | 200,000 | 100,000 | ||||
| Founder and Chief Technology Officer | ||||||
| Thomas Gallivan | 200,000 | 220,000 | ||||
| Vice President of Worldwide Sales | ||||||
| William P. Garvey | 200,000 | 80,000 | ||||
| General Counsel, Vice President of Corporate Development and Secretary | ||||||
| Madhu Ranganathan | 200,000 | 80,000 | ||||
| Vice President of Finance | ||||||
| Robert Weisickle | 220,000 | 80,000 | ||||
| Vice President of Engineering | ||||||
Cash Bonus Arrangements for Executive Officers:
| 1. | The bonus awards for Thomas K. Barton, Todd R. Ford and Giovanni Coglitore (percentage of target bonus) are determined quarterly based upon Rackable Systems’ achievement of its goals for revenues, gross margin, earnings per share (on a normalized basis) and quarterly backlog, as such goals are specified in the operating plan provided by management to Rackable Systems’ board of directors. |
| 2. | The bonus award for Thomas Gallivan is determined based on the achievement of certain sales targets. |
| 3. | The bonus awards (percentage of target bonus) for all other executive officers is determined by the achievement of (a) individual goals and objectives throughout each quarter and (b) certain quarterly financial achievements by Rackable Systems. |
