Sonus Networks 2004 Executive Bonus Plan Summary
Sonus Networks, Inc. established a 2004 bonus program for its executive officers and employees, as approved by the Compensation Committee. Bonuses for the CEO are awarded at the Committee's discretion, while bonuses for other executives and employees are determined by both the CEO and the Committee. Bonus amounts depend on the company meeting specific revenue and profit goals, as well as individual performance. Target bonus amounts for key executives are specified, with eligibility and final awards subject to discretion and company performance during the fiscal year.
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EXHIBIT 10.1
SUMMARY OF 2004 EXECUTIVE BONUS PLAN
On January 16, 2004, the Compensation Committee of the Board of Directors of Sonus Networks, Inc. (the "Company") approved a bonus program for fiscal year 2004 for executive officers and employees, including certain executive officers of the Company reporting under Section 16(a) of the Securities Exchange Act of 1934. Under the program, any bonus to the Chief Executive Officer is awarded at the discretion of the Compensation Committee and any bonuses to other executive officers and employees are awarded at the discretion of the Chief Executive Officer and Compensation Committee. The bonus awards are based on the Company's achieving certain revenue and operating profit targets for fiscal year 2004 as well as individual performance objectives. The target bonus amounts for each eligible executive officer is set forth below:
| Name | Title | Target Incentive | |||
|---|---|---|---|---|---|
Hassan Ahmed | Chief Executive Officer | $ | 236,000 | ||
Steve Edwards | Chief Marketing Officer | 147,000 | |||
Rubin Gruber | Chairman Emeritus of the Board of Directors | 88,000 | |||
Bradley Miller | Chief Accounting Officer | 51,250 | |||
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- EXHIBIT 10.1
