Modification to Compensation Arrangements for David K. Rice by Tekelec
Tekelec's Board of Directors approved changes to the compensation of David K. Rice, the company's Senior Vice President and GM Global Signaling Solutions, effective May 13, 2011. His annual base salary was increased from $270,000 to $290,000, and his target bonus under the 2011 Executive Officer Bonus Plan was raised from 50% to 60% of his base salary. These changes were recommended by the Compensation Committee and approved by the Board.
EXHIBIT 10.7
MODIFICATION TO COMPENSATION ARRANGEMENTS FOR DAVID K. RICE
The Board of Directors (the “Board”) of Tekelec (the “Company”), upon the recommendation of the Compensation Committee of the Board, approved for David K. Rice, the Company’s Senior Vice President and GM Global Signaling Solutions, effective as of May 13, 2011, (i) an increase in his annual base salary from $270,000 to $290,000 and (ii) an increase in his target bonus opportunity under the Company’s 2011 Executive Officer Bonus Plan from 50% to 60% of his annual base salary.
