Document:

EX-10.42

 

EXHIBIT 10.42

Summary of Compensation

for

Directors of R. G. Barry Corporation

          Directors who are employees of R. G. Barry Corporation (the “Company”) receive no additional
compensation for their service as a director. For the fiscal year ended June 30, 2007, directors
of the Company who were not employees of the Company or its subsidiaries (“Non-Employee Directors”)
received an annual retainer of $20,000 for service as a director and $1,000 for each regularly
scheduled meeting and $500 for each telephonic meeting of the Board of Directors (the “Board”)
attended. The Chairman of the Board and the Chairs of the Audit Committee, the Compensation
Committee and the Nominating and Governance Committee each received an additional annual retainer
of $5,000. All members of standing committees of the Board received a fee of $500 for each
committee meeting attended that occurred on the same day as a Board meeting, a fee of $1,000 for
attending a committee meeting that did not occur on the same day as a Board meeting and a fee of
$500 for participating in a telephonic meeting of a committee. The Chairman of the Board and the
recording secretary, if they were requested to attend the meeting, received $500 for each committee
meeting attended.

          Additionally, in May 2007, the Company granted to each of the individuals then serving as
Non-Employee Directors (Messrs. DiPaolo, Lautzenhiser, Lauer, Nichols, Stan, Von Lehman, Weinberg
and Zacks and Ms. Page) 3,333 RSUs, with a fair value (for purposes of Statement of Financial
Accounting Standards No. 123 (revised), “Share-Based Payment” (“SFAS 123R”)) of $35,000 on the
grant date, which will vest in full on the first anniversary of the grant date. Upon vesting, the
RSUs will be settled in an equivalent number of common shares of the Company.

          In September 2007, the Board changed the compensation arrangement for Non-Employee Directors
to eliminate the payment of per meeting fees and to increase the annual retainer for service as a
director from $20,000 to $45,000. The Board also increased the annual retainer for service as the
Chairman of the Board and the Chairs of the Audit Committee, the Compensation Committee and the
Nominating and Governance Committee from $5,000 to $10,000. Lastly, the Board approved an increase
in the grant date fair value (for purposes of SFAS 123R) of the annual RSU grant to be made to
Non-Employee Directors from $35,000 to $45,000.EX-4.3

 

EXHIBIT 4.3

Extraordinary Variable Compensation Plan

TELVENT

 

 

Index

1. Concept

2. Object

3. Amount

4. Development

4.1. Duration

4.2. Structure

4.3. Early Termination of Participation in Certain Cases

4.4. Changes of Job Position by Participants

4.5. Sale of subsidiaries with personnel

4.6. Change of control in Telvent

5. Documentation

6. Other considerations

 

 

1. Concept

This Extraordinary Variable Compensation Plan (the “Plan”) is established in favor of certain
officers and managers (the ”Participants”) and provides for extraordinary compensation, the earning
of which depends on the fulfillment of objectives based on the Strategic Plan of Telvent GIT, S.A.
(“Telvent”), and which is additional to other variable compensation and/or bonuses earned or which
may be earned by each Participant.

2. Object

The compensation can be earned during the five-year term of this Plan, calculated year-to-year, but
only vests and becomes payable after the end of the term of the Plan and is payable during a period
of six months after the termination of the Plan after verification of the fulfillment of the
objectives based on Telvent’s annual audit reports.

3. Amount

The
maximum amount available under this Plan to all Participants is
€ 10,480,000.

4. Development

4.1. Duration

The term of the Plan is five years commencing January 1, 2007. The calculation and payment of the
compensation will be made by June 30, 2012.

4.2. Structure

A portion of the compensation for which a Participant is eligible to earn (as notified to the
Participant as described in Section 5) can be earned annually by the Participant according to the
percentages set out in the table below (or as otherwise approved by the Nominating and Compensation
Committee for particular Participants). However, vesting only takes place after the end of the
fifth year:

	 	 	 	 	 
	Year 2007
	 	 	10	%
	Year 2008
	 	 	15	%
	Year 2009
	 	 	15	%
	Year 2010
	 	 	30	%
	Year 2011
	 	 	30	%
	 
	 	 	 
	 
	 	 	100	%

The calculation and payment of the compensation payable under this Plan will be made within six
months following the end of the term of the Plan (June 30, 2012) and after the audit report without
qualifications by the auditor is received for the Telvent company in which the Participant is
employed (the “Company”).

The following conditions must be fulfilled in order for a Participant to earn compensation under
this Plan:

 

 

	(a)	 	The Participant must remain in the employment of the Company (or another Telvent subsidiary
as described in section 4.4) throughout the term of the Plan.

	(b)	 	For each fiscal year of the Plan, the Participant must be entitled to receive an annual bonus
under the Company bonus plan for that year, based on achievement of least 90% of the
objectives other than bookings or quality, specified in the bonus plan. Failure to earn a
bonus under the Company bonus plan in one year does not disqualify a Participant from being
eligible to earn compensation under this Plan in another year. Employees working in areas of
general corporate services not associated with any particular business segment will have to
fulfill additional objectives specifically defined by the President of Telvent.

	(c)	 	Fulfillment of the consolidated 5-year budget of Telvent corresponding to the fiscal years
2007 to 2011 according to the Strategic Plan of June 7, 2006.

	(d)	 	The price of the ordinary shares of Telvent listed on the NASDAQ Global Market on December
31, 2011 must be not less than $17 per share. If the list price is less than $17, due to
unforeseeable circumstances of volatility of the share prices and/or from the stock market,
then the price of the Telvent shares will calculated using the average price during a
reference period of three months before and three months after December 31, 2011 and this will
be submitted for the consideration of the Nomination and Compensation Committee of Telvent.

4.3. Early Termination of Participation in Certain Cases

	(a)	 	In case of termination of the employment of a Participant (whether voluntary or by dismissal)
before the end of the term of the Plan, the Plan will terminate with respect to that
Participant, and the Participant will not be entitled to receive any payment under the Plan.

	(b)	 	In the case of death of a Participant, the Plan will terminate with respect to that
Participant, and at the end of the term of the Plan, the heirs of the Participant will be
entitled to receive the compensation earned under this Plan by the Participant for the fiscal
years completed prior to the death of the Participant.

	(c)	 	In the case of either retirement of a Participant on reaching 65 years of age or total
disability (that prevents the Participant from being able to do any other type of work) before
the end of the term of the Plan, the Plan will terminate with respect to that Participant and
the Participant will be entitled to receive the compensation earned under this Plan for fiscal
years completed to the date of his retirement. In addition, the Participant will be entitled
to receive compensation for the fiscal year in which the Participant retired if the objectives
for that fiscal year are fulfilled. The calculation and payment of the compensation will be
made at the end of the term of the Plan as provided in sections 4.1 and 4.2, above.

4.4. Changes of Location of the Participants

In the case of a change in job position by a Participant (within the Company or a transfer to
another Telvent Subsidiary), the Participant will be treated as having earned the compensation for
the completed fiscal years prior to the date of the change of position (Participant) and new objectives will be established applicable to the Participant’s new position.

 

 

4.5. Sale of Subsidiaries with Personnel

In the case of a sale of a Telvent subsidiary, the buyer of the subsidiary will be required to
assume the commitments of the subsidiary under this Plan or payout the amounts earned under this
Plan to the date of the sale by Participants employed by that subsidiary.

4.6. Change of control of Telvent

A change of control of Telvent shall not affect this Plan.

5. Documentation

There is no other documentation that creates any commitment or obligation of Telvent different from
those established in this Plan.

This Plan will become effective with respect to a Participant upon notification to that Participant
of being selected for participation in this Plan and stating the amount that the Participant is
eligible to earn under the Plan. This notification will be confirmed by a letter to the
Participant signed by the Director of Human Resources stating that:

The variable, extraordinary compensation under this Plan is that which is earned during the
term of this Plan on a one time and non-repetitive basis, that rewards the Participants for
the fulfillment of objectives based on the attainment of the objectives specified in the
Strategic Plan, determined according to criteria and formulas established for that purpose, and whose amount is freely fixed by management taking into consideration the professional
circumstances and assignments of each Participant.

6. Other considerations

If the Telvent shares cease to be listed in the NASDAQ Global Market, this Plan will remain in
effect. However, the provisions of section 4.2 (d), above, shall not be applicable. In such case,
the Telvent Nomination and Compensation Committee shall decide if the individual objectives and
expected development of Telvent have been fulfilled according to the Strategic Plan.

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