Document:

exv10w3

 

EXHIBIT 10.3

February 9, 2004

Pieter Van der Vorst

SVP & Chief Financial Officer

Sybase, Inc.

One Sybase Drive

Dublin, CA 94568

(Delivered by hand)

Dear Pieter:

The year 2004 marks our
20th anniversary and is a critical year for Sybase
growth. We have enjoyed several years of profitability, are cash flow
positive, and in the last six months, expanded our partner base to include
venerable companies like Intel and SAP. The Unwired Enterprise is our driving
strategy for 2004 — it is a pivotal part of extending growth in the IT
marketplace. We have exciting new products rolling out from every part of the
company, and the new Unwired Enterprise solution will define the mobile
enterprise category for the industry. We will need everyone’s help to ensure
that we make the most of our technology leadership and that we continue to
demonstrate a high level of unique value to customers and partners in all of
our programs.

Thank you for your contributions last year and ask that all of us keep sight of
the challenges ahead. More than ever, we need to remain focused and dedicated
to delivering growth and shareholder value required for Sybase to remain strong
and competitive. The board has approved our incentive bonus payout and your
bonus payout will be included in your February 15, 2004 paycheck.

Let me also inform you of your 2004 Executive Compensation as approved by the
Sybase, Inc. Compensation Committee at the February 4, 2004 meeting.

	 	1.	 	Cash compensation (effective January 1, 2004)

	 	•	 	Annual base salary: $337,800

(Paid semi-monthly at $14,075)
	 
	 	•	 	Incentive bonus target: 73% ($247,500)
	 
	 	•	 	Total target earnings (TTE): $584,800

	 	 	 	Your incentive bonus target will be based on Sybase, inc. overall
company performance as follows:

	 	•	 	50% on Sybase revenue of $817M
	 
	 	•	 	50% on Sybase profit before taxes (PBT) of $169.5

Sybase, Inc.

One Sybase Drive

Dublin, CA 94568

 

 

Pieter Van der Vorst

February 9, 2004

Page 2

	 	 	 	Payment of annual incentive bonus will be based on
following:

	 	a)	 	Sybase revenue:

	 	•	 	70% at 95% of target performance
	 
	 	•	 	100% at 100%
	 
	 	•	 	3 for 1 after 100% (e.g. 130% at 110%)
	 
	 	•	 	no cap

	 	b)	 	Sybase PBT

	 	•	 	70% at 70% of target performance
	 
	 	•	 	100% at 100%
	 
	 	•	 	3 for 1 after 100% (e.g. 130% at 110%)
	 
	 	•	 	no cap

	 	2.	 	Long-Term Incentives

	 	(a)	 	Sybase Stock Option Grant (4-year vest):

	 	•	 	50,000 shares

	 	(b)	 	Sybase Restricted Stock Grant (3-year cliff vest
with performance acceleration, i.e. from 3-year cliff vest to
2-year cliff vest if Sybase meets its 2004 budgeted revenue):

	 	•	 	10,000 shares at $0.10 per share.

I look forward to your contributions this year as we continue our pursuit of
maintaining integrity and credibility with our investors, customers, partners,
and employees.

Sincerely,

/S/ JOHN S. CHEN

John S. Chen

Chairman, CEO and President

	 	 	 
	cc:

	 	HR File
	edlexv10w4

 

EXHIBIT 10.4

February 9, 2004

Marty Beard

SVP, Corporate Development & Marketing

Sybase, Inc.

One Sybase Drive

Dublin, CA 94568

(Delivered by hand)

Dear Marty:

The year 2004 marks our
20th anniversary and is a critical year for Sybase
growth. We have enjoyed several years of profitability, are cash flow
positive, and in the last six months, expanded our partner base to include
venerable companies like Intel and SAP. The Unwired Enterprise is our driving
strategy for 2004 — it is a pivotal part of extending growth in the IT
marketplace. We have exciting new products rolling out from every part of the
company, and the new Unwired Enterprise solution will define the mobile
enterprise category for the industry. We will need everyone’s help to ensure
that we make the most of our technology leadership and that we continue to
demonstrate a high level of unique value to customers and partners in all of
our programs.

Thank you for your contributions last year and ask that all of us keep sight of
the challenges ahead. More than ever, we need to remain focused and dedicated
to delivering growth and shareholder value required for Sybase to remain strong
and competitive. The board has approved our incentive bonus payout and your
bonus payout will be included in your February 15, 2004 paycheck.

Let me also inform you of your 2004 Executive Compensation as approved by the
Sybase, Inc. Compensation Committee at the February 4, 2004 meeting.

	 	1.	 	Cash compensation (effective January 1, 2004)

	 	•	 	Annual base salary: $321,000

(Paid semi-monthly at $13,375)
	 
	 	•	 	Incentive bonus target: 60.6% ($194,500)
	 
	 	•	 	Total target earnings (TTE): $515,500

	 	 	 	Your incentive bonus target will be based on Sybase, inc. overall
company performance as follows:

	 	•	 	50% on Sybase revenue of $817M
	 
	 	•	 	50% on Sybase profit before taxes (PBT) of $172

 

 

Marty Beard

February 9, 2004

Page 2

	 	 	 	Payment of annual incentive bonus will be based on
following:

	 	a)	 	Sybase revenue:

	 	•	 	70% at 95% of target performance
	 
	 	•	 	100% at 100%
	 
	 	•	 	3 for 1 after 100% (e.g. 130% at 110%)
	 
	 	•	 	no cap

	 	b)	 	Sybase PBT

	 	•	 	70% at 70% of target performance
	 
	 	•	 	100% at 100%
	 
	 	•	 	3 for 1 after 100% (e.g. 130% at 110%)
	 
	 	•	 	no cap

	 	2.	 	Long-Term Incentives

	 	(a)	 	Sybase Stock Option Grant (4-year vest):

	 	•	 	60,000 shares

	 	(b)	 	Sybase Restricted Stock Grant (3-year cliff vest
with performance acceleration, i.e. from 3-year cliff vest to
2-year cliff vest if Sybase meets its 2004 budgeted revenue):

	 	•	 	8,000 shares at $0.10 per share.

I look forward to your contributions this year as we continue our pursuit of
maintaining integrity and credibility with our investors, customers, partners,
and employees.

Sincerely,

/S/ JOHN S. CHEN

John S. Chen

Chairman, CEO and President

	 	 	 
	cc:

	 	HR File
	edlexv10w5

 

EXHIBIT 10.5

February 9, 2004

Raj Nathan

SVP, Product & Technology Operations Group

Sybase, Inc.

One Sybase Drive

Dublin, CA 94568

(Delivered by hand)

Dear Raj:

The year 2004 marks our
20th anniversary and is a critical year for Sybase
growth. We have enjoyed several years of profitability, are cash flow
positive, and in the last six months, expanded our partner base to include
venerable companies like Intel and SAP. The Unwired Enterprise is our driving
strategy for 2004 — it is a pivotal part of extending growth in the IT
marketplace. We have exciting new products rolling out from every part of the
company, and the new Unwired Enterprise solution will define the mobile
enterprise category for the industry. We will need everyone’s help to ensure
that we make the most of our technology leadership and that we continue to
demonstrate a high level of unique value to customers and partners in all of
our programs.

Thank you for your contributions last year and ask that all of us keep sight of
the challenges ahead. More than ever, we need to remain focused and dedicated
to delivering growth and shareholder value required for Sybase to remain strong
and competitive.

Let me also inform you of your 2004 Executive Compensation as approved by the
Sybase, Inc. Compensation Committee at the February 4, 2004 meeting.

	 	1.	 	Cash compensation (effective January 1, 2004)

	 	•	 	Annual base salary: $340,000

(Paid semi-monthly at $14,166.67)
	 
	 	•	 	Incentive bonus target: 64.7% ($220,000)
	 
	 	•	 	Total target earnings (TTE): $560,000

	 	 	 	Your incentive bonus target will be based on Sybase, inc. overall
company performance as follows:

	 	•	 	50% on Sybase revenue of $817M
	 
	 	•	 	50% on Sybase profit before taxes (PBT) of $172

 

 

Raj Nathan

February 9, 2004

Page 2

	 	 	 	Payment of annual incentive bonus will be based on following:

	 	a)	 	Sybase revenue:

	 	•	 	70% at 95% of target performance
	 
	 	•	 	100% at 100%
	 
	 	•	 	3 for 1 after 100% (e.g. 130% at 110%)
	 
	 	•	 	no cap

	 	b)	 	Sybase PBT

	 	•	 	70% at 70% of target performance
	 
	 	•	 	100% at 100%
	 
	 	•	 	3 for 1 after 100% (e.g. 130% at 110%)
	 
	 	•	 	no cap

	 	2.	 	Long-Term Incentives

	 	(a)	 	Sybase Stock Option Grant (4-year vest):

	 	•	 	60,000 shares

	 	(b)	 	Sybase Restricted Stock Grant (3-year cliff vest
with performance acceleration, i.e. from 3-year cliff vest to
2-year cliff vest if Sybase meets its 2004 budgeted revenue):

	 	•	 	8,000 shares at $0.10 per share.

I look forward to your contributions this year as we continue our pursuit of
maintaining integrity and credibility with our investors, customers, partners,
and employees.

Sincerely,

/S/ JOHN S. CHEN

John S. Chen

Chairman, CEO and President

	 	 	 
	cc:

	 	HR File
	edlexv10w6

 

EXHIBIT 10.6

February 9, 2004

Thomas Volk

EVP, Worldwide Field Operations

Sybase, Inc.

One Sybase Drive

Dublin, CA 94568

(Delivered by hand)

Dear Thomas:

The year 2004 marks our 20th anniversary and is a critical year for Sybase
growth. We have enjoyed several years of profitability, are cash flow
positive, and in the last six months, expanded our partner base to include
venerable companies like Intel and SAP. The Unwired Enterprise is our driving
strategy for 2004 — it is a pivotal part of extending growth in the IT
marketplace. We have exciting new products rolling out from every part of the
company, and the new Unwired Enterprise solution will define the mobile
enterprise category for the industry. We will need everyone’s help to ensure
that we make the most of our technology leadership and that we continue to
demonstrate a high level of unique value to customers and partners in all of
our programs.

Thank you for your contributions last year and ask that all of us keep sight of
the challenges ahead. More than ever, we need to remain focused and dedicated
to delivering growth and shareholder value required for Sybase to remain strong
and competitive. The board has approved our incentive bonus payout and your
bonus payout will be included in your February 15, 2004 paycheck.

Let me also inform you of your 2004 Executive Compensation as approved by the
Sybase, Inc. Compensation Committee at the February 4, 2004 meeting.

	 	1.	 	Cash compensation (effective January 1, 2004)

	 	•	 	Annual base salary: $375,000

(Paid semi-monthly at $15,625)
	 
	 	•	 	Variable compensation at 44% of TTE: $300,000
	 
	 	•	 	Total target earnings (TTE): $675,000

Your 2004 Variable Compensation Plan Document, to be given to you shortly, will
provide the plan components, quota and compensation details for your review and
signature. Please sign it and return one signed copy to Nita White-Ivy in
Corporate Human Resources.

Sybase, Inc.

One Sybase Drive

Dublin, CA 94568

1

 

Thomas Volk

February 9, 2004

Page 2

	 	2.	 	Long-Term Incentives

	 	(a)	 	Sybase Stock Option Grant (4-year vest):

	 	•	 	80,000 shares

	 	(b)	 	Sybase Restricted Stock Grant (3-year cliff vest
with performance acceleration, i.e. from 3-year cliff vest to
2-year cliff vest if Sybase meets its 2004 budgeted revenue):

	 	•	 	20,000 shares at $0.10 per share.

I look forward to your contributions this year as we continue our pursuit of
maintaining integrity and credibility with our investors, customers, partners,
and employees.

Sincerely,

/S/ JOHN S. CHEN

John S. Chen

Chairman, CEO and President

	 	 	 
	cc:

	 	HR File
	edl
	 	 

2

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