Document:

Form 2007 Executive Officer Bonus Plan

 Exhibit 10.8 
 NOVATEL WIRELESS, INC. 
 SENIOR MANAGEMENT BONUS TARGETS 
 Fiscal Year 2007 
 I. INTRODUCTION 

 

	 	A.	The Objective of the Bonus Targets is to provide eligible senior management of Novatel Wireless, Inc. and its subsidiaries (the “Company”) with the target metrics
in connection with their respective bonus opportunity related to their contributions to the success and strategic growth of the Company. Participation in the Plan and the payment of any sums hereunder shall be at the sole and absolute discretion of
the Company. 

  

	 	B.	Participants: This Plan, as determined by the Company on a fully discretionary basis, applies solely to regular employees of the Company who are senior executive officers
(“Plan Participants”), whom the Company determines meet the eligibility requirements set forth in Section III. For purposes of this Plan and unless otherwise prohibited by applicable law, the term “regular employee” means an
individual who is deemed by the Company to be both an employee of the Company and employed for an unspecified or indefinite period of time. 

  

	 	C.	Effective Date: Fiscal Year 2007 (January 1, 2007 – December 31, 2007). 

  

	 	D.	Changes in Targets: The Company reserves the right to modify the targets in whole or in part, at any time. Any such modification or termination must be approved in writing by
either (i) the CEO, except with respect to his own targets or bonus payments, or (ii) resolution of the Compensation Committee. 

  

	 	E.	Authority: The Company reserves the right to interpret this document on a fully discretionary basis. Nothing in this Plan is intended to create an entitlement to any employee
for any incentive payment hereunder except as the Company may determine in its discretion. 

 II. BONUS TARGET FACTOR 
  

	 	A.	Bonus Target Factor will be determined by reference to Corporate Targets and Individual Targets. Corporate Targets will be determined by assigning a weight of between 0 and
0.60 based on achievement of Corporate Targets. Individual Targets will be determined by assigning a weight of between 0 and 0.40 based on achievement of Individual Targets. The Bonus Target Factor will be the sum of the Corporate Target Factor and
the Individual Target Factor. 

  

	 	B.	Corporate Targets are based on an evaluation of a Plan Participant’s performance and contribution for the Fiscal Year of the following criteria.

  

	
	The Company’s financial performance, including achievement of the Company’s 2007 Operating Plan, achievement of sequential growth, operating leverage, positive operating income and
EPS
	
	Achievement of and contribution to the Company’s success, strategic objectives and direction
	
	Achievement of the Company’s 2007 execution plan and 2007 strategic plan
	
	Ability to work as a team player and collaborate with others across the Company, suppliers, partners and/or customers.
	
	Interaction with other teams (e.g., to achieve other team goals)

	 	C.	INDIVIDUAL TARGETS are based on an evaluation of a Plan Participant’s performance and contribution for the Fiscal Year of the respective criteria for his respective
group as set forth in Annex A hereto. 

 III. ELIGIBILITY 
  

	 	A.	Eligibility: A Plan Participant must satisfy each of the following eligibility requirements to be considered for the Incentive Payment hereunder. 

  

	 	1.	The Plan Participant must be deemed by the Company to be employed by the Company as a regular employee in an incentive-eligible position on or before the first working day of the
last fiscal quarter of the Fiscal Year, and must be employed as a regular employee in an incentive-eligible position on the last working day of the Fiscal Year; 

  

	 	2.	The Plan Participant must not be providing services to the Company as a temporary employee, intern or as an independent contractor, consultant, or agent under a written or oral
contract, and must not be classified by the Company as a temporary employee, independent contractor, consultant, or agent (whether or not such classification is upheld upon review by a governmental, judicial or other agency);

  

	 	3.	Unless otherwise required by law, in no event will an employee be eligible to receive an incentive hereunder unless he/she is employed on the last working day of the Fiscal Year in
the capacity, or comparable capacity, such Plan Participant is employed on the date hereof. 

  

	 	4.	Plan Participants meeting all eligibility requirements hereunder who have less than one year of service will be eligible to receive a discretionary incentive that is prorated from
the effective date of participation in the plan up to and including the last working day of the Fiscal Year. Unless otherwise required by law, in no event will an employee be eligible to receive an incentive hereunder unless he/she is employed on
the last working day of the Fiscal Year in the capacity, or comparable capacity, such Plan Participant is employed on the date hereof. 

 IV. PARTICIPANTS AND INCENTIVE TARGET PERCENTAGE 
  

	 	A.	Participants and Incentive Target Percentage. The sole Plan Participants in the Plan are those set forth below. The Incentive Target Percentage for each such Participant is a
percentage of each Participant’s base salary as follows and may be changed at the discretion of the Company at any time during the Fiscal Year. 

  

				
	 Participant
	  	Incentive Target Percentage	 
	 CEO
	  	50	%
	 COO
	  	50	%
	 CFO
	  	50	%
	 VP Business Affairs
	  	50	%
	 VP Research and Development
	  	50	%
	 VP Sales and Marketing
	  	50	%
	 VP Operations
	  	50	%

	 	B.	Elements of Calculation:  

 Incentives under this Plan are
calculated on a fully discretionary basis, in accordance with the following formula: 
  

																	
	 Base Salary
	 	X	 	 Incentive
 Target
 Percentage
	 	X	 	 Bonus
 Target
 Factor
	 	X	 	 Pro-
 ration
 Factor
	 	=	 	Total Annual Incentive

  

	 	1.	Base Salary shall mean the annual base salary for each Plan Participant set forth above in effect at the end of Q4 2007. 

  

	 	2.	Proration Factor accounts for the number of calendar days during the Fiscal Year that such Plan Participant was in an incentive-eligible position. For example, the Proration
Factor for a Plan Participant who has been in the Plan the entire year will be 1.00. For a Plan Participant who has been in the Plan for 6 months, this factor will be 0.50. 

  

	 	C.	Incentive Formula and Calculation Example: Assuming a base salary of $250,000, Incentive Target Percentage of 50%, Corporate Target Factor of 0.50 and Individual Target
Factor of 0.40, and a Proration Factor of 1.00, the Total Annual Incentive for such a Plan Participant meeting all eligibility requirements, would be calculated as follows: 

 Sample Calculation 
  

																	
	 Base Salary
	 		 	Incentive Target Percentage	 		 	Bonus Target Factor	 		 	Pro-ration Factor	 		 	Total Annual Incentive
	 $250,000
	 	X	 	0.50	 	X	 	0.90	 	X	 	1.0	 	=	 	$112,500*

	*	less any appropriate withholdings. 

 In this example, the total incentive
equals 45% of base salary. 
  

	 	D.	At Will Employment. The Company is an at-will employer, which means that an employee’s employment can be terminated by an employee or the Company at any time with or without
cause. The Company reserves the right to modify an employee’s duties, title or other terms and conditions of employment with or without cause. This Plan cannot and should not be interpreted to alter the at-will nature of the employment
relationship between the Company and any Plan Participant. The at-will nature of the employment relationship cannot be modified except in a written document signed by the Company’s CEO.Form of Restricted Stock Unit Award Agreement (Performance Vesting)

 Exhibit 10.49 
 MEMC ELECTRONIC MATERIALS, INC. 
 STOCK UNIT AWARD AGREEMENT 
 For Officers (Performance Vesting) 
                     , 20         
 2001 Equity Incentive Plan 
 THIS
AGREEMENT is effective                     , 20    , between MEMC Electronic Materials, Inc. (the
“Company”) and
                                        
(the “Participant”). 
 WHEREAS, the Company has adopted and maintains the MEMC Electronic Materials, Inc. 2001 Equity Incentive
Plan (the “Plan”) to promote the interests of the Company and its stockholders by providing the directors, key employees and consultants of the Company and its Affiliates with an appropriate incentive to encourage them to continue in the
service and employ of the Company or Affiliate and to improve the growth and profitability of the Company; 
 WHEREAS, the Plan provides for
the grant to Participants in the Plan of Stock Unit Awards; and the Company wishes to grant Stock Unit Awards to certain officers in consideration for their Employment with the Company. 
 NOW, THEREFORE, in consideration of the mutual promises set forth in this Agreement, the parties hereto hereby agree as follows: 
 1. Grant of Stock Unit Awards. Subject to the terms and conditions contained herein and in the Plan, the Company hereby grants to the
Participant             Stock Unit Awards. Each Stock Unit Award represents the obligation of the Company to transfer one share of Common Stock to the Participant at the time
provided in this Agreement, provided such Stock Unit Award is vested at such time. 
 2. Incorporation of Plan. All terms,
conditions and restrictions of the Plan are incorporated herein and made part hereof as if stated herein. If there is any conflict between the terms and conditions of the Plan and this Agreement, the terms and conditions of the Plan, as interpreted
by the MEMC Compensation Committee (the “Committee”), shall govern. All capitalized terms used herein shall have the meaning given to such terms in the Plan. 
 3. Bookkeeping Account. The Company shall record the number of Stock Unit Awards granted hereunder to a bookkeeping account for the Participant (the “Stock Unit Account”). The
Participant’s Stock Unit Account shall be debited by the number of Stock Unit Awards, if any, forfeited in accordance with this Agreement and by the number of shares of Common Stock transferred to the Participant with respect to such Stock Unit
Awards. The Participant’s Stock Unit Account also shall be adjusted from time to time for stock dividends, stock splits and other such transactions in accordance with the Plan. 

 4. Terms and Conditions of Stock Unit Awards. The Stock Unit Awards evidenced hereby are
subject to the following terms and conditions: 
 (a) Vesting. The Stock Unit Awards granted to the Participant hereby shall
become vested in accordance with the vesting schedule set forth as Schedule I hereto, which schedule incorporates certain performance goals. 
 Notwithstanding the foregoing, unless the Committee otherwise determines at a later date, if within the two year period following a Change in Control the Participant’s Employment is terminated by the Company without Cause or by the
Participant for Good Reason, all of the Stock Unit Awards granted to the Participant hereby shall become vested as of the effective date of the termination of the Participant’s Employment with the Company. 
 (b) Forfeiture Upon Termination of Service. Except as otherwise provided in Section 4(a) above, upon cessation of the
Participant’s Employment with the Company for any reason before [date], the number of shares of Stock Unit Awards subject to this Agreement that have not become vested shall be forfeited, except as the Committee may otherwise determine
in its sole discretion. 
 5. Distribution of Common Stock. Subject to the provisions below, as soon as practical after each
vesting date, the Company shall transfer shares of Common Stock to the Participant equal in number to the Stock Unit Awards credited to the Participant’s Stock Unit Account that have vested and were not previously transferred to Participant.
Such transfer shall be made within 30 days following each vesting date. Participant shall pay all applicable federal, state, local and foreign withholding taxes that the Company is required to withhold at any time with respect to the Stock Unit
Awards. Such payment shall be made in full, at Participant’s election, in cash, check or shares of Common Stock, by withholding from the Participant’s next normal payroll check, by the tendering of a check by the Participant for the
required withholding amount or by the tender of shares of the Company’s Common Stock (including shares then vesting under this Stock Unit Award). Shares of Common Stock tendered as payment of required withholding shall be valued at the Fair
Market Value of the Company’s Common Stock on the date such withholding obligation arises. 
 6. Source of Payment. Shares
of Common Stock transferable to the Participant, or upon death to his or her beneficiary, under this Agreement shall be authorized but unissued shares. The Company shall have no duties to segregate or set aside any assets to secure the
Participant’s right to receive shares of Common Stock under this Agreement. The Participant shall not have any rights with respect to transfer of shares of Common Stock under this Agreement other than the unsecured right to receive shares of
Common Stock from the Company. 
 7. Units Non-Transferable. Stock Unit Awards awarded hereunder shall not be transferable by
the Participant. Except as may be required by the federal income tax withholding provisions of the Code or by the tax laws of any State, the interests of the Participant and his or her beneficiaries under this Agreement are not subject to the claims
of their creditors and may not be voluntarily or involuntarily sold, transferred, alienated, assigned, pledged, anticipated, or encumbered. Any attempt by the Participant or a 
  

 2 

 
beneficiary to sell, transfer, alienate, assign, pledge, anticipate, encumber, charge or otherwise dispose of any right to benefits payable hereunder shall
be void. 
 8. Shareholder Rights. The Participant shall not have any of the rights of a shareholder of the Company with
respect to Stock Unit Awards, such as the right to vote. 
 9. Death Benefits. In the event of the death of the Participant,
the Company shall transfer shares of Common Stock equal in number to the vested Stock Unit Awards, if any, credited to the Participant’s Stock Unit Account to the Participant’s legal representative or beneficiaries. Such transfer shall be
made within 30 days following death. 
 The Participant may designate a beneficiary or beneficiaries (contingently, consecutively, or
successively) of such death benefit and, from time to time, may change his or her designated beneficiary. A beneficiary may be a trust. A beneficiary designation shall be made in writing in a form prescribed by the Company and delivered to the
Company while the Participant is alive. If there is no designated beneficiary surviving at the death of the Participant, payment of any death benefit of the Participant shall be made to the surviving spouse of the Participant, if any, and if no such
surviving spouse to the estate of the Participant. 
 10. Integration. This Agreement, and the other documents referred
to herein or delivered pursuant hereto which form a part hereof contain the entire understanding of the parties with respect to its subject matter. There are no restrictions, agreements, promises, representations, warranties, covenants or
undertakings with respect to the subject matter hereof other than those expressly set forth herein. This Agreement, including without limitation the Plan, supersedes all prior agreements and understandings between the parties with respect to its
subject matter. 
 11. Governing Law. This Agreement shall be governed by and construed and enforced in accordance with the
laws of the State of Delaware, without regard to the provisions governing conflict of laws. 
 12. Amendment. This Agreement
may be amended by mutual consent of the parties hereto by written agreement. 
 13. Participant Acknowledgment. By
accepting this grant, the Participant acknowledges receipt of a copy of the Plan, and acknowledges that all decisions, determinations and interpretations of the Committee in respect of the Plan, this Agreement and the Stock Unit Awards granted
hereunder shall be final and conclusive. 
  

			
	MEMC Electronic Materials, Inc.
		
	By:	 	  

		
	Title:	 	  

  

 3 

 SCHEDULE I 
 to Stock Unit Award Agreement 
 Of the
                     Stock Unit Awards subject to this Agreement, up to
                    of such Stock Unit Awards (i.e.,
[                    ] Stock Unit Awards) are subject to forfeiture if the performance goals set forth below are not met or achieved.

 Performance Goals: 
 [to be determined by Board of Directors or Compensation Committee] 
 Vesting Schedule: 
 The number of Stock Unit Awards ultimately earned under this Agreement (i.e., the number of Stock Unit Awards after determination of any forfeiture
pursuant to the performance goals set forth above) shall vest as follows:
                                        .

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