Document:

exv10w26

 

Exhibit 10.26

DESCRIPTION OF NATHAN ZOMMER’S CASH BONUSES

On November 23, 2004, the Compensation Committee (the “Committee”) of the Board of Directors of
IXYS Corporation (the “Company”) set objectives to use in determining the amount of the cash bonus
payable to Dr. Nathan Zommer, the Chief Executive Officer of the Company, in respect of the fiscal
year ending March 31, 2005. The Committee also established weights for the objectives, to indicate
their relative importance. In setting the objectives and weights, the Committee approved the
following language:

“These objectives, along with the weights accorded them, represent guidelines for the Committee to
use in evaluating the bonus to be paid to the Chief Executive Officer and for the Chief Executive
Officer to use in understanding the goals of the Compensation Committee for his performance. As
guidelines, the objectives and weights are not determinative in and of themselves of the amount of
the bonus. The amount of the bonus will be determined by the Committee in light of its evaluation
of the Chief Executive Officer’s performance in total and not based on the mechanical application
of any formula. The Committee may decide to award additional amounts for performance in excess of
an objective or award lesser amounts for partial performance of an objective. The Committee may
also consider factors not set forth below in ultimately determining the amount of the bonus. Thus,
the amount of the bonus to be paid is in the discretion of the Committee, to be determined after
completion of the fiscal year.”

The objectives are described below:

1. A quantitative target for net income for fiscal 2005;

2. Presentation of 3 year, rolling business plan

(covering fiscal years 2006, 2007 and 2008)

by February 2005;

3. A quantitative target for net revenues for fiscal 2005;

4. A quantitative target for gross margin for fiscal 2005;

5. Completion of compliance with Section 404 of

the Sarbanes-Oxley Act with an unqualified attestation

report from the auditors for fiscal 2005; and

6. Overall performance during fiscal 2005.

 

 

Objectives 1, 3, and 4 will be measured against the audited financial statements of the Company for
fiscal 2005.

The Board of Directors of the Company had previously approved, at a meeting on February 20, 2004,
a target cash bonus for Dr. Zommer of $250,000 for the fiscal year ending March 31, 2005. In
setting the target, it was noted that the actual cash bonus could be more or less than that amount,
in light of his performance.

On November 23, 2004, the Committee also approved a cash bonus to Dr. Zommer of $700,000, payable
in increments of $100,000 per fiscal quarter, commencing with the fiscal quarter ending December
31, 2004. A condition to the Company’s obligation to pay any increment is that Dr. Zommer
continues to be the Chief Executive Officer on the last day of the corresponding fiscal quarter.

On June 2, 2005, the Committee set potential bonus levels and objectives to use in determining the
amount of the cash bonus payable to Dr. Zommer in respect of the fiscal year ending March 31, 2006.
The Committee also established weights for the objectives, to indicate their relative importance.
In doing so, the Committee considered the advice of an independent compensation consultant.

In setting the bonus levels, objectives and weights, the Committee approved the following language:

“The bonus levels and objectives, along with the weights accorded the objectives, represent
guidelines for the Committee to use in evaluating the bonus to be paid to the Chief Executive
Officer and for the Chief Executive Officer to use in understanding the goals of the Compensation
Committee for his performance. As guidelines, the bonus levels, objectives and weights are not
determinative in and of themselves of the amount of the bonus. The amount of the bonus will be
determined by the Committee in light of its evaluation of the Chief Executive Officer’s performance
in total and not based on the mechanical application of any formula. The Committee may decide to
award additional amounts for performance in excess of an objective or award lesser amounts for
partial performance of an objective. The Committee may also consider factors not set forth below in
ultimately determining the amount of the bonus. Thus, the amount of the bonus to be paid is in the
discretion of the Committee, to be determined after completion of the fiscal year.”

The Committee set three different potential levels for Dr. Zommer’s fiscal 2006 cash bonus as
follows:

Acceptable performance: $250,000

Target bonus: $300,000

Performance above expectations: $400,000

 

 

The objectives are described below:

1. A quantitative target for net revenues for fiscal 2006;

2. A quantitative target for gross margin for fiscal 2006; and

3. Overall performance during fiscal 2006, including an evaluation of infrastructure development,
the business plan and the integration of acquisitions.exv10w27

 

Exhibit 10.27

SUMMARY OF UZI SASSON’S CASH COMPENSATION

On November 23, 2004, the Compensation Committee (the “Committee”) of the Board of Directors of
IXYS Corporation (the “Company”) approved an annual salary of $260,000 and a target cash bonus of
$130,000 per fiscal year for Uzi Sasson, the Vice President of Finance and Chief Financial Officer
of the Company. With respect to the fiscal year ending March 31, 2005, the target cash bonus is to
be pro-rated for the days of service as Chief Financial Officer within such year. The pro-rated
amount is approximately $47,000. The actual cash bonus could be more or less than the target
amount, in light of Mr. Sasson’s performance.exv10w28

 

Exhibit 10.28

SUMMARY OF OUTSIDE DIRECTOR COMPENSATION

As of June 15, 2005, Directors of IXYS Corporation that are not employees, commonly referred to as
outside directors, received cash compensation on the following basis:

	 	 	 	 	 
	Annual Retainer for each Director
	 	$	20,000	 
	 
	 	 	 	 
	Additional Annual Retainer for the Chairman of the
	 	 	 	 
	 
	 	 	 	 
	Audit Committee
	 	$	7,500	 
	 
	 	 	 	 
	Compensation Committee
	 	$	4,000	 
	 
	 	 	 	 
	Nominating Committee
	 	$	4,000	 
	 
	 	 	 	 
	Director’s Fee for each Board of Directors meeting
	 	$	1,000	 
	 
	 	 	 	 
	Director’s Fee for each Committee meeting
	 	$	600exv10w20

 

EXHIBIT 10.20

Selectica, Inc. 1999 Equity Incentive Plan

Notice of Stock Option Grant

     You have been granted the following option to purchase shares of the Common Stock of
Selectica, Inc. (the “Company”):

	 	 	 
	Name of Optionee:

	 	«Name»
	 
	 	 
	Total Number of Shares:

	 	«TotalShares»
	 
	 	 
	Type of Option:

	 	Nonstatutory Stock Option
	 
	 	 
	Exercise Price Per Share:

	 	$«PricePerShare»
	 
	 	 
	Date of Grant:

	 	«DateGrant»
	 
	 	 
	Vesting Commencement Date:

	 	«VestDay»
	 
	 	 
	Vesting Schedule:

	 	This option becomes exercisable with respect to the first 25% of the
Shares subject to this option when you complete 12 months of continuous “Service” (as
defined in the Plan) from the Vesting Commencement Date. Thereafter, this option
becomes exercisable with respect to an additional 1/48th of the Shares
subject to this option when you complete each month of Service.
	 
	 	 
	Expiration Date:

	 	«ExpDate». This option expires earlier if your Service terminates earlier,
as described in the Stock Option Agreement.

You and the Company agree that this option is granted under and governed by the terms and
conditions of the 1999 Equity Incentive Plan (the “Plan”) and the Stock Option Agreement, both of
which are attached to and made a part of this document.

You further agree that the Company may deliver by email all documents relating to the Plan or this
option (including, without limitation, prospectuses required by the Securities and Exchange
Commission) and all other documents that the Company is required to deliver to its security holders
(including, without limitation, annual reports and proxy statements). You also agree that the
Company may deliver these documents by posting them on a web site maintained by the Company or by a
third party under contract with the Company. If the Company posts these documents on a web site,
it will notify you by email.

	 	 	 	 	 
	Optionee:	 	Selectica, Inc.
	 
	 	 	 	 
	

	 	By:	 	 
	 

	 	 	 	 
	

	 	 	 	 
	

	 	Title:	 	 
	

	 	 	 	 

 

 

Selectica, Inc. 1999 Equity Incentive Plan

Stock Option Agreement

	 	 	 	 	 
	Tax Treatment	 	This option is intended to be a nonstatutory stock option, as
provided in the Notice of Stock Option Grant, and is not intended
to qualify as an incentive stock option under section 422 of the
Internal Revenue Code.
	 
	 	 	 	 
	Vesting	 	This option becomes exercisable in installments, as shown in the
Notice of Stock Option Grant. In addition, this option becomes
exercisable as follows in the event that the Company is subject to
a “Change in Control” (as defined in the Plan):
	 
	 	 	 	 
	

	 	•
	 	 This option becomes exercisable in full at the time of the
Change in Control unless this option (a) remains outstanding after
the Change in Control, (b) is assumed by the surviving corporation
(or by the parent or a subsidiary thereof) or (c) is replaced by
the surviving corporation (or by the parent or a subsidiary
thereof) with an award that has substantially the same terms. The
determination of whether a replacement award has substantially the
same terms as this option will be made by the Compensation
Committee of the Company’s Board of Directors, and its
determination will be final, binding and conclusive.
	 
	 	 	 	 
	

	 	•
	 	If the preceding paragraph does not apply, and if you are
subject to an “Involuntary Termination” (as defined in the Plan)
within 12 months after the Change in Control, then the exercisable
portion of this option will be determined by adding 12 months to
the actual period of Service that you completed.
	 
	 	 	 	 
	

	 	This option will in no event become exercisable for additional
shares after your Service has terminated for any reason.
	 
	 	 	 	 
	Term	 	This option expires in any event at the close of business at
Company headquarters on the day before the 10th
anniversary of the Date of Grant, as shown in the Notice of Stock
Option Grant. (It will expire earlier if your Service terminates,
as described below.)
	 
	 	 	 	 
	Regular Termination	 	If your Service terminates for any reason except death or total and
permanent disability, then this option will expire at the close of
business at Company headquarters on the date three months after
your termination date. The Company determines when your Service
terminates for this purpose.

2

 

	 	 	 	 	 
	Death	 	If you die before your Service terminates, then this option will
expire at the close of business at Company headquarters on the date
12 months after the date of death.
	 
	 	 	 	 
	Disability	 	If your Service terminates because of your total and permanent
disability, then this option will expire at the close of business
at Company headquarters on the date 12 months after your
termination date.
	 
	 	 	 	 
	 	 	For all purposes under this Agreement, “total and permanent
disability” means that you are unable to engage in any substantial
gainful activity by reason of any medically determinable physical
or mental impairment which can be expected to result in death or
which has lasted, or can be expected to last, for a continuous
period of not less than one year.
	 
	 	 	 	 
	Leaves of Absence
and Part-Time Work	 	For purposes of this option, your Service does not terminate when
you go on a military leave, a sick leave or another bona fide leave
of absence, if the leave was approved by the Company in writing and
if continued crediting of Service is required by the terms of the
leave or by applicable law. But your Service terminates when the
approved leave ends, unless you immediately return to active work.
	 
	 	 	 	 
	 	 	If you go on a leave of absence, then the vesting schedule
specified in the Notice of Stock Option Grant may be adjusted in
accordance with the Company’s leave of absence policy or the terms
of your leave. If you commence working on a part-time basis, then
the vesting schedule specified in the Notice of Stock Option Grant
may be adjusted in accordance with the Company’s part-time work
policy or the terms of an agreement between you and the Company
pertaining to your part-time schedule.
	 
	 	 	 	 
	Restrictions on

Exercise	 	The Company will not permit you to exercise this option if the
issuance of shares at that time would violate any law or
regulation.
	 
	 	 	 	 
	Notice of Exercise	 	When you wish to exercise this option, you must notify the Company
by filing the proper “Notice of Exercise” form at the address given
on the form. Your notice must specify how many shares you wish to
purchase. Your notice must also specify how your shares should be
registered. The notice will be effective when the Company receives
it.
	 
	 	 	 	 
	 	 	If someone else wants to exercise this option after your death,
that person must prove to the Company’s satisfaction that he or she
is entitled to do so.

3

 

	 	 	 	 	 
	Form of Payment	 	When you submit your notice of exercise, you must include payment
of the option exercise price for the shares that you are
purchasing. To the extent permitted by applicable law, payment may
be made in one (or a combination of two or more) of the following
forms:
	 
	 	 	 	 
	

	 	•
	 	 Your personal check, a cashier’s check or a money order.
	 
	 	 	 	 
	

	 	•
	 	 Certificates for shares of Company stock that you own,
along with any forms needed to effect a transfer of those shares to
the Company. The value of the shares, determined as of the
effective date of the option exercise, will be applied to the
option exercise price. Instead of surrendering shares of Company
stock, you may attest to the ownership of those shares on a form
provided by the Company and have the same number of shares
subtracted from the option shares issued to you. However, you may
not surrender, or attest to the ownership of, shares of Company
stock in payment of the exercise price if your action would cause
the Company to recognize compensation expense (or additional
compensation expense) with respect to this option for financial
reporting purposes.
	 
	 	 	 	 
	

	 	•
	 	 Irrevocable directions to a securities broker approved by
the Company to sell all or part of your option shares and to
deliver to the Company from the sale proceeds an amount sufficient
to pay the option exercise price and any withholding taxes. (The
balance of the sale proceeds, if any, will be delivered to you.)
The directions must be given by signing a special “Notice of
Exercise” form provided by the Company.
	 
	 	 	 	 
	

	 	•
	 	 Irrevocable directions to a securities broker or lender
approved by the Company to pledge option shares as security for a
loan and to deliver to the Company from the loan proceeds an amount
sufficient to pay the option exercise price and any withholding
taxes. The directions must be given by signing a special “Notice
of Exercise” form provided by the Company.
	 
	 	 	 	 
	Withholding Taxes
and Stock
Withholding	 	You will not be allowed to exercise this option unless you make
arrangements acceptable to the Company to pay any withholding taxes
that may be due as a result of the option exercise. With the
Company’s consent, these arrangements may include withholding
shares of Company stock that otherwise would be issued to you when
you exercise this option. The value of these shares, determined as
of the effective date of the option exercise, will be applied to
the withholding taxes.

4

 

	 	 	 	 	 
	Restrictions on

Resale	 	You agree not to sell any option shares at a time when applicable
laws, Company policies or an agreement between the Company and its
underwriters prohibit a sale. This restriction will apply as long
as your Service continues and for such period of time after the
termination of your Service as the Company may specify.
	 
	 	 	 	 
	Transfer of Option	 	Prior to your death, only you may exercise this option. You cannot
transfer or assign this option. For instance, you may not sell
this option or use it as security for a loan. If you attempt to do
any of these things, this option will immediately become invalid.
You may, however, dispose of this option in your will or a
beneficiary designation.
	 
	 	 	 	 
	 	 	Regardless of any marital property settlement agreement, the
Company is not obligated to honor a notice of exercise from your
former spouse, nor is the Company obligated to recognize your
former spouse’s interest in your option in any other way.
	 
	 	 	 	 
	Retention Rights	 	Your option or this Agreement does not give you the right to be
retained by the Company or a subsidiary of the Company in any
capacity. The Company and its subsidiaries reserve the right to
terminate your Service at any time, with or without cause.
	 
	 	 	 	 
	Stockholder Rights	 	You, or your estate or heirs, have no rights as a stockholder of
the Company until you have exercised this option by giving the
required notice to the Company and paying the exercise price. No
adjustments are made for dividends or other rights if the
applicable record date occurs before you exercise this option,
except as described in the Plan.
	 
	 	 	 	 
	Adjustments	 	In the event of a stock split, a stock dividend or a similar change
in Company stock, the number of shares covered by this option and
the exercise price per share may be adjusted pursuant to the Plan.
	 
	 	 	 	 
	Applicable Law	 	This Agreement will be interpreted and enforced under the laws of
the State of Delaware (without regard to their choice-of-law
provisions).
	 
	 	 	 	 
	The Plan and Other
Agreements	 	The text of the Plan is incorporated in this Agreement by reference.
	 
	 	 	 	 
	 	 	This Agreement and the Plan constitute the entire understanding
between you and the Company regarding this option. Any prior
agreements, commitments or negotiations concerning this option are
superseded. This Agreement may be amended only by another written
agreement between the parties.

By signing the cover sheet of this Agreement, you agree to all of the terms and conditions

described above and in the Plan.

5

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