Rackable Systems, Inc. Executive Officer Compensation Summary as of January 3, 2009
This document outlines the annual base salaries and target bonuses for senior executive officers of Rackable Systems, Inc. as of January 3, 2009. It lists the compensation details for each executive and explains that up to 25% of the annual target bonus may be earned each quarter, based on the company's achievement of performance goals set by the Compensation Committee. The agreement sets clear expectations for executive pay and bonus eligibility.
Exhibit 10.18
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 3, 2009, was as follows:
| Executive Officers | Annual Base Salary | Annual Target Bonus | ||||
| Mark J. Barrenechea | $ | 350,000 | $ | 350,000 | ||
| Anthony Carrozza | $ | 275,000 | $ | 125,000 | ||
| Giovanni Coglitore | $ | 250,000 | $ | 100,000 | ||
| Maurice Leibenstern | $ | 270,000 | $ | 105,000 | ||
| Jonathan J. Skoglund | $ | 220,000 | $ | 66,000 | ||
| James D. Wheat | $ | 270,000 | $ | 105,000 | ||
| David M. Yoffie | $ | 270,000 | $ | 105,000 | ||
Cash Bonus Arrangements for Executive Officers:
| 1. | 25% of the Annual Target Bonus maybe earned each quarter. The bonus awards are determined based upon Rackable Systems’ achievement of certain performance goals to be established by the Compensation Committee of the Board. |
