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DDIC > SEC Filings for DDIC > Form 8-K on 11-Dec-2008All Recent SEC Filings

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Form 8-K for DDI CORP


11-Dec-2008

Change in Directors or Principal Officers


Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

The Board of Directors of DDi Corp. (the "Company") has adopted the Dynamic Details, Incorporated Senior Management Bonus Program for the fiscal year ending December 31, 2009 (the "2009 Bonus Program"). Selected employees, including all of the Company's executive officers, are eligible to participate in the 2009 Bonus Program. Each participant in the 2009 Bonus Program has been assigned a target annual cash bonus. Participants may earn bonuses based on (a) the achievement by the Company of certain financial goals set forth in the Company's annual budget related to the Company's EBITDA from the Company's consolidated operations less the total amount of bonus payments awarded under the 2009 Bonus Program and certain other adjustments ("Net EBITDA"); and (b) meeting annual personal objectives established for each participating employee.

Under the 2009 Bonus Program, (i) the target bonus for Mikel Williams, the President and Chief Executive Officer of the Company, is $375,000, with the opportunity to earn 0-135% of this amount based on the level of personal performance and the achievement of the Company's financial goals; (ii) the target bonus for Mike Mathews, the Senior Vice President - Manufacturing Operations of the Company, is $137,500 with the opportunity to earn 0-125% of this amount based on the level of personal performance and the achievement of the Company's financial goals; (iii) the target bonus for Jerry Barnes, the Senior Vice President - Sales of the Company, is $150,000 with the opportunity to earn 0-133% of this amount based on the level of personal performance and the achievement of the Company's financial goals; and (iv) the target bonus for Sally Edwards, the Chief Financial Officer of the Company, is $100,000, with the opportunity to earn 0-125% of this amount based on the level of personal performance and the achievement of the Company's financial goals. Bonus payouts are subject to pro-ration in the event participants are on leave. The 2009 Bonus Program also provides the Compensation Committee with discretion to grant additional discretionary bonuses to participants, including the Company's named executive officers.


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