2009 Executive Officer Compensation Table and Stock Option Grant Terms for [Company Name]
This document outlines the 2009 compensation for the company's executive officers, including base salaries, stock option grants, and bonuses under the 2008 Management Bonus Plan. It specifies the salary amounts, the number of stock options to be granted, and bonus payments for each executive. The stock options will be granted on January 30, 2009, with a seven-year term, vesting over four years, and are subject to continued employment. The agreement ensures transparency in executive compensation and aligns incentives with company performance.
2009 Executive Officer Compensation
The following table sets forth (i) 2009 base salaries to the Company’s executive officers, which represent no change from the levels established for such executive officers in January 2008, (ii) 2009 option grants to be made to the Company’s executive officers and (iii) bonus payments to be made to the executive officers pursuant to the Company’s 2008 Management Bonus Plan.
| Name and Title | 2009 Base Salary | 2009 Option Grant | 2008 Bonus | |||
Jeff Staszak President and Chief Executive Officer | $ 385,000 | 90,000 | $ 319,303 | |||
Mike Burns Vice President, Finance and Chief Financial Officer | $ 230,000 | 40,000 | $ 127,168 | |||
David Lidsky Vice President, Design Engineering | $ 225,000 | 20,000 | $ 119,428 | |||
Bill Numann Vice President, Marketing | $ 235,000 | 30,000 | $ 124,736 | |||
Craig Teuscher Vice President, Sales and Applications Engineering | $ 240,000 | 30,000 | $ 132,697 |
The stock options described above (i) shall be granted on January 30, 2009 in compliance with the Company’s policy on annual grants for executive officers and shall have an exercise price per share equal to the closing price of our common stock as reported on the Nasdaq Global Select Market on January 29, 2008, (ii) shall be granted pursuant to our 2004 Equity Incentive Plan, and (iii) shall terminate seven years after the date of grant, or earlier in the event the optionholder’s service to the Company is terminated. Subject to the optionholder’s continued service to us, 25% of the shares of common stock subject to such stock options vest on the first anniversary of the date of grant, and the remaining shares vest quarterly over the following three years.
