2010 Base Salaries and Target Bonuses Agreement for Certain Officers
This document outlines the 2010 base salaries and target discretionary bonuses for key officers of the company, including the CEO, CFO, and other senior executives. It specifies the maximum base salary and target bonus amounts for each officer. Additionally, it notes that certain officers have chosen to receive their bonuses as a mix of 50% cash and 50% company common stock, with the stock portion calculated based on the share price as of January 4, 2010.
Exhibit 10.1
2010 Base Salaries and Target Discretionary Bonuses
| Officer | Position | Maximum Base Salary | Target Discretionary Bonus | ||||||
| Shane Evangelist | Chief Executive Officer | $ | 367,770 | $ | 294,216 | 1 | |||
| Ted Sanders | Chief Financial Officer | $ | 307,500 | $ | 153,750 | 1 | |||
| Aaron Coleman | Executive Vice President of Operations and Chief Information Officer | $ | 284,040 | $ | 142,020 | 1 | |||
| Houman Akhavan | Vice President of Marketing | $ | 261,000 | $ | 95,000 | ||||
| Charlie Fischer | Senior Vice President of Global Procurement | $ | 220,500 | $ | 90,000 | ||||
| 1 | Each of Messrs. Evangelist, Sanders and Coleman elected to have his bonus paid 50% in cash and 50% common stock of the Company, with the number of shares determined by the closing price on January 4, 2010. For example, if the closing price of our stock on January 4, 2010 is $5.00 per share, and all target thresholds are met, Mr. Evangelist’s bonus would be comprised of $147,108 in cash, and 29,421 shares of common stock. |
