Sybase, Inc. 2007 Compensation Letter Agreement with Marty Beard

Contract Categories: Human Resources › Compensation Agreements
Summary

This letter from Sybase, Inc. to Marty Beard outlines his 2007 compensation as President of Sybase 365. It specifies his annual base salary, incentive bonus target, and total target cash compensation. The agreement also details long-term incentives, including stock options and restricted stock grants, with vesting terms referenced in separate agreements. The letter serves as formal notification of his compensation package for the year.

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EX-10.42 4 f27565exv10w42.htm EXHIBIT 10.42 exv10w42  

EXHIBIT 10.42
February 26, 2007
Marty Beard
President, Sybase 365
(Delivered by hand)
Dear Marty:
This is to inform you of your 2007 compensation as approved by the Sybase, Inc. Compensation Committee:
  1.   Cash Compensation (effective January 1, 2007)
  1.   Annual base salary: $363,140
 
  2.   Incentive bonus target: $243,304
 
  3.   Total target cash compensation (TTC): $606,444
You will receive shortly your 2007 Variable Compensation Plan Document with the details of your quota and plan components.
  2.   Long-Term Incentives
  (a)   Sybase Stock Option Grant (4-year vest)
  •   10,500 options
  (b)   Restricted Stock Grant (performance vest)
  •   8,600 shares
  (c)   Restricted Stock Grant (time vest)
  •   4,700 shares
The vesting terms are set out in the relevant equity award grant agreement.
I also want to take this opportunity to thank you for your contributions in 2006. I look forward to your support and contributions in 2007.
Sincerely,
     
/s/ John S. Chen
   
John S. Chen
    
Chairman, CEO and President
    
CC: HR File