Document:

exv10w37

 

Exhibit 10.37

DESCRIPTION OF

ZIX CORPORATION 2008 MANAGEMENT VARIABLE COMPENSATION

PLAN

       The Company’s 2008 Management Variable Compensation Plan (the “Plan”) provides for variable
compensation to be paid to certain Company employees, based upon the achievement by December 31,
2008 relative to the parameters stated below. A total of approximately $493,000 is available for
payment under the Plan. A total of nine employees are eligible to participate in the Plan.

     The relevant parameters that define the variable compensation to be paid are set forth below
(based on full-year):

     (1) Revenue

     (2) Total
Cash Balance as of 12/31/08

     (3) New
First Year Orders for Email Encryption

     (4) Renewal Rate for Email Encryption

     (5) New Physicians Sponsored for e-Prescribing

     (6) Cumulative Active Physician Prescribers for e-Prescribing as of 12/31/08

     (7) 4Q
2008 Fees per Active Physician Prescribers for e-Prescribing

     The Plan provides for a “Minimum” and “Target” metric for each of the stated parameters. The
computation shall be measured as follows:

	 	(A)	 	If the team achieves the “Target” for a measurement, then 100% of the bonus
amount allocated to that measurement per the weighting established for that
measurement is earned.
	 
	 	(B)	 	If the team misses the “Minimum” for a measurement, then all of the bonus
amount allocated to that measurement per the weighting established for that
measurement is forfeited.
	 
	 	(C)	 	If the team achieves an amount for a measurement that is between the
“Minimum” and the “Target”, then the bonus amount allocated to that measurement per
the weighting established for that measurement is paid pro rata on a
linear basis, beginning at the “Minimum” and ending with the “Target” being 100%.exv10w38

 

Exhibit 10.38

Description of Compensation for Zix Corporation Board of Directors Members

Cash Compensation

	–	 	Cash payment of $2,000 per meeting per director for attendance in person at Board meetings.
	 
	–	 	Cash payment of $1,000 per meeting per director for attendance at telephonic Board meetings.
	 
	–	 	Annual cash payment of $5,000 per director for serving as Chair of a Board committee
(assuming attendance of at least two-thirds of the meetings).
	 
	–	 	Annual cash payment of $3,000 per director for serving as a member (i.e., not the Chair) of a
Board committee (assuming attendance of at least two-thirds of the meetings).

Stock Option Compensation

	–	 	Initial Stock Option Grants — When a non-employee director is first elected or
appointed to our Board of Directors, the director is granted nonqualified options to purchase
25,000 shares of our common stock. These options vest quarterly and pro-rata over one year
from the grant date, and the exercise price is 100% of the common stock price on the grant
date.
	 
	–	 	Annual Stock Option Grants — Also, on an annual basis, each non-employee director
that has served on our Board of Directors for at least six months as of the first business day
in January will be granted nonqualified options to purchase a number of shares of our common
stock equal to the greater of (i) one-half of one percent of the number of our outstanding
            shares (measured as of the prior December 31) or (ii) 200,000 shares, divided by the greater
of (i) five or (ii) the number of non-employee directors that have served on our Board for at
least 6 months as of the grant date; provided that, the number of shares of Common Stock
covered by any such January option grant shall not exceed 40,000 shares. The options will vest
quarterly and pro-rata over three years from the grant date and the option exercise price will
be 100% of our common stock price on such day.
	 
	–	 	Committee Service Option Grants —  Also, on an annual basis, when an non-employee
director is first appointed or elected to serve on the Board’s Audit Committee, the
Compensation Committee, or the Nominating and Corporate Governance Committee, or their
respective successors-in-interest, or on the day the non-employee director is first appointed
(or, if later, the date the committee first becomes active) to serve on another eligible
committee of the Board, then such director shall be granted for annual service on each such
committee, nonqualified options to purchase 5,000 shares of Common Stock, if serving as the
chair of the committee, or 3,000 shares of Common Stock, if serving as a member but not the
chair of the committee. The options will vest quarterly and pro-rata over three years from the
grant date and the option exercise price will be 100% of our common stock price on such day.exv10w41

 

    Exhibit 10.41

 

	 	 	 	 	 	 
	
     
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
    Veraz Networks,
    Inc

    926 Rock Avenue, Suite 20

    San Jose, CA 95131

    USA
    

	

    [Veraz
    Networks Logo]

	
 
	
    www.veraznetworks.com
    
	
 
	
 
	
    Tel:  +1-408-750-9400

    Fax: +1-408-546-0081
    

	

     

	
 
	
 
	
 
	
 
	
 

 

    November 29, 2007

 

    Mr. Mike West

    C/O Veraz Networks, Inc.

    926 Rock Avenue, Suite 20

    San Jose, CA 95131

 

    Re:     Appointment to the Board of
    Directors of Veraz Networks, Inc. (“Veraz”)

 

    Dear Mike:

 

    I am very happy to report that, as we have previously agreed,
    you were appointed to the Board of Directors of Veraz (the
    “Board”) at a meeting held today. Additionally, you
    were appointed to be a member of the nominating, governance and
    compensation committees of the Board.

 

    You have been automatically granted a non-statutory stock option
    to purchase 15,000 shares of Veraz’s common stock, at
    an exercise price equal to $4.85 (the closing price of Veraz
    common stock as of today). Additionally, the Board has granted
    to you 10,000 restricted stock units. Twenty-five percent
    (25%) of the RSUs and the shares underlying the option shall
    vest on each of November 30, 2008; November 30, 2009,
    November 30, 2010; and November 20, 2011 for so long
    as you continue to serve as a director, until the entire amount
    of the grant is vested. All additional terms, including
    acceleration of vesting following a Change of Control, are set
    forth in Veraz’ 2006 Equity Incentive Plan, a copy of
    which is attached hereto. A copy of the grant notice and
    additional documentation regarding the above-described grant
    will be provided within a week.

 

    As a non-employee director of Veraz, you will receive an annual
    retainer of $10,000 for your services as a member of the Board,
    an additional annual retainer of $5,000 per committee for your
    services on the compensation, governance and nominating committees of the
    Board for a total annual retainer of $25,000. All payments will
    be made on a quarterly basis. Veraz will also reimburse you for
    your travel expenses in attending board and committee meetings.

 

    I have also attached for your information a copy of Veraz’s
    standard indemnification agreement. We have entered into this
    agreement with all directors, officers and certain other
    employees. This agreement provides, among other things, that we
    will indemnify our directors for any and all expenses, including
    attorneys’ fees, in any action or proceeding arising out of
    service as one of our directors. Additionally, for your
    information, I have attached a copy of the summary of our
    current Director and Officer Summary of Insurance. Obviously,
    you will be covered by this policy immediately after joining the
    Board.

 

    1.

 

    I trust that you will find these terms and conditions consistent
    with our prior agreement. Please sign and date this letter below
    as well as the attached indemnification agreement. We look
    forward to a productive and enjoyable future relationship.

 

    Very truly yours,

 

    Veraz Networks, Inc.
    

 

			
	 	    By: 
	
    /s/  Douglas
    A. Sabella

    
Douglas
    A. Sabella

    President and CEO

 

    Accepted:

 

 

	 	 	 	 	 
	

    /s/  
Mike
    West

	
 
	
 
	
 
	
    1/21/08

	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
    Date

 

Attachments:

     2006 Equity Incentive Plan

     Indemnification Agreement

     Director and Officer Summary of Insuranceexv10w10

 

    Exhibit 10.10

 

    LIN TV
    Corp.

    

 

    Summary of
    Executive Compensation

 

    As of March 14, 2008, the 2008 base salaries of each of the
    named executive officers of LIN TV Corp. were as follows:

 

	 	 	 	 	 	 	 
	

    Name of Executive

	
 
	

    Title of Executive

	
 
	

    Base Salary

	 

	

    Vincent L. Sadusky

	
 
	
    President and Chief Executive Officer
	
 
	 
	
    $500,000
	 

	

    Scott M. Blumenthal

	
 
	
    Executive Vice President Television
	
 
	 
	
    386,250
	 

	

    Bart W. Catalane

	
 
	
    Sr. Vice President Chief Financial Officer
	
 
	 
	
    257,500
	 

	

    Denise M. Parent

	
 
	
    Vice President General Counsel and Secretary
	
 
	 
	
    283,250
	 

	

    Gregory M. Schmidt

	
 
	
    Executive Vice President Digital Media
	
 
	 
	
    412,000
	 

 

    The 2008 target bonuses for each executive are established and
    outlined in more detail in his or her employment agreement
    incorporated by reference as Exhibits to our Annual Report on
    Form 10-K
    for the year ended December 31, 2007. The bonuses will be
    determined based upon the achievement of certain strategic
    objectives, including performance targets and other subjective
    factors.

 

    As of March 14, 2008, the 2008 target bonus of each of the
    executive officers of LIN TV Corp. was as follows:

 

	 	 	 	 	 	 	 
	
 
	
 
	
 
	
 
	
    2008 Target Cash

    

	

    Name of Executive

	
 
	

    Title of Executive

	
 
	

    Bonus

	 

	

    Vincent L. Sadusky

	
 
	
    President and Chief Executive Officer
	
 
	 
	
    $500,000
	 

	

    Scott M. Blumenthal

	
 
	
    Executive Vice President Television
	
 
	 
	
    200,000
	 

	

    Bart W. Catalane

	
 
	
    Sr. Vice President Chief Financial Officer
	
 
	 
	
    150,000
	 

	

    Denise M. Parent

	
 
	
    Vice President General Counsel and Secretary
	
 
	 
	
    150,000
	 

	

    Gregory M. Schmidt

	
 
	
    Executive Vice President Digital Media
	
 
	 
	
    175,000

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