Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 13, 2012, the Board of Directors and Compensation and Nominating
Committee of the Board of Directors of MIPS Technologies, Inc. (the "Company")
approved bonuses to the following named executive officers: Sandeep Vij
($150,000), Gail Shulman ($100,000) and William Slater ($75,000). The bonuses
were awarded in recognition of the efforts of the aforementioned officers in
connection with the Company's recent announcement to sell certain patent
properties and to then consummate a merger (the "Strategic Transactions"). The
bonuses will be paid upon and are subject to the closing of the strategic
transactions, which the Company anticipates will occur in the first quarter of
2013.
Additional information regarding the Strategic Transactions, and copies of the
patent sale agreement and merger agreement, can be found on the Company's
Current Report on Form 8-K filed on November 8, 2012.
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