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Quotes & Info
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| BRCM > SEC Filings for BRCM > Form 8-K on 17-Mar-2009 | All Recent SEC Filings |
17-Mar-2009
Change in Directors or Principal Officers
assessment of his individual performance and the performance of the division, business unit or other area of his responsibility. The following chart sets forth the actual bonus awarded to each Applicable Executive Officer: Applicable Executive Officer Total Amount of Bonus Scott A. McGregor President and Chief Executive Officer $ 615,000 Eric K. Brandt Senior Vice President and Chief Financial Officer $ 300,000 Arthur Chong1 Senior Vice President, General Counsel and Secretary $ 50,000 Thomas F. Lagatta Senior Vice President, Worldwide Sales $ 250,000 Robert L. Tirva Vice President, Corporate Controller and Principal Accounting Officer $ 108,000 2009 Performance Bonus Program On March 11, 2009 the Compensation Committee established the financial performance objectives to serve as the general guidelines for calculating the size of the bonus pool under the Performance Bonus Plan for 2009 and also set |
1 The bonus for Mr. Chong was pro-rated for the number of days that he served as an executive officer in 2008.
The Performance Bonus Plan for 2009 also provides for threshold funding (which may range from $0 to $2 million for the revenue growth metric and from $0 to $2.7 million for the cash flow metric) to the extent each such performance metric is attained at a level between the lowest level and the target level for that metric. In the event of such threshold funding, there could also be an additional discretionary component of up to 20% of the entire bonus pool. For 2009, the Compensation Committee set the target bonus opportunity for the Applicable Executive Officers, expressed as a percentage of salary, as follows:
Target Bonus Opportunity
Applicable Executive Officer (as a percentage of salary)
Scott A. McGregor 100 %
Eric K. Brandt 75 %
Arthur Chong 75 %
Thomas F. Lagatta 75 %
Robert L. Tirva 50 %
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The targeted payout percentages, together with the methodology for establishing
the dollar amount of the total bonus pool, serve only as general guidelines, and
the Compensation Committee retains complete discretion to pay bonuses over or
under the targeted amounts.
Amendment and Restatement of the Performance Bonus Plan
On March 11, 2009 the Compensation Committee also approved an amendment of the
Performance Bonus Plan that implemented the performance objectives and bonus
pool parameters discussed above.
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