Exhibit 10.10

 

SUMMARY OF KEY TERMS OF COMPENSATION ARRANGEMENTS WITH MERIX

CORPORATION EXECUTIVE OFFICERS

 

Merix’ executive officers each receive an annual salary. The executive officers
are also eligible for a cash incentive under the Merix’ Executive Incentive Plan
(“EIP”) and for equity incentives under our 1994 Stock Incentive Plan. Awards
under the EIP are determined as percentages of base salary. Merix’ executives
participate in Merix’ 401(k) plan and other employee benefits plans on the same
basis as other employees. Merix makes annual matching contributions to Merix’
401(k) Plan and pays Group Term Life Insurance premiums for each of its
executive officers on the same basis as for all regular employees of Merix who
satisfy minimum eligibility requirements. In addition, Merix’ executive officers
are eligible to participate in Merix’ health and welfare and other employee
benefit plans that are available on the same basis to all regular employees of
Merix who satisfy minimum eligibility requirements.

 

Key elements of executive compensation for fiscal year ending May 27, 2006 are:

 

Name and Title

--------------------------------------------------------------------------------

   Fiscal
2006
Salary

--------------------------------------------------------------------------------

   2006 EIP
Maximum
Cash
Incentive

--------------------------------------------------------------------------------

    2006 Target Bonus Allocation

--------------------------------------------------------------------------------

          North American
Operations
Operating
Income

--------------------------------------------------------------------------------

    China
Operations
EBITDA

--------------------------------------------------------------------------------

    North
American
Quick Turn
Revenue

--------------------------------------------------------------------------------

    San Jose
Operations
EBITDA

--------------------------------------------------------------------------------

 

Mark R. Hollinger

President and Chief Executive Officer

   $ 330,000    70 %   40 %   60 %            

Janie S. Brown

Senior Vice President, Chief Financial Officer and Treasurer

   $ 276,800    50 %   40 %   50 %   10 %      

Daniel T. Olson

Senior Vice President and Chief Executive Officer of Asian Operations

   $ 230,000    70 %   40 %   60 %            

Steve Robinson

Vice President, Merix North American Operations and President, Merix San Jose,
Inc.

   $ 275,000    100 %   40 %         30 %   30 %

Thomas R. Ingham (a)

Vice President, Sales and Marketing

   $ 210,000    60 %(a)     (b)     (b)     (b)     (b)

--------------------------------------------------------------------------------

(a) Included in the percentage of 2006 EIP Maximum Cash Incentive to be awarded
to Mr. Ingham is a $45,000 guaranteed amount payable in quarterly installments
of $11,250.

 

(b) The distribution of the 2006 Target Bonus Allocation for Mr. Ingham has not
yet been determined.