Document:

2008 Casual Male Retail Group ,Inc. Long-Term Incentive Plan

 Exhibit 10.2 
 

 
 2008 CASUAL MALE RETAIL GROUP, INC. 
 LONG-TERM INCENTIVE PLAN 
 Section 1. Establishment and Purpose 
 Casual Male Retail Group, Inc. (the “Company”) hereby establishes a long-term incentive plan to be named the 2008 Casual Male Retail Group, Inc. Long-Term
Incentive Plan (the “Plan”), for the purpose of supporting the Company’s ongoing efforts to attract, retain and develop exceptional talent and enable the Company to provide incentives directly linked to the Company’s short and
long-term objectives and increases in shareholder value. 
 Section 2. Definitions 
 When used herein, the following capitalized terms shall have the meanings assigned to them, unless the context clearly indicates otherwise. Capitalized terms used herein and not defined shall have the meanings
assigned to them in the Company’s 2006 Incentive Compensation Plan (the “Incentive Compensation Plan”). 
  

	 	(a)	Award means an award under the Plan that is payable in the form of Cash, Options and/or Restricted Stock pursuant to the terms and conditions set forth in this Plan.

  

	 	(b)	Award Payment Choice means the form of payment of an Award that a Participant selects in accordance with the terms hereof. 

  

	 	(c)	Black-Scholes Valuation means, with respect to an Option, the value of such Option as of the date of the valuation calculated utilizing the same formula and assumptions as
the Company utilized for the purpose of valuing outstanding options in its most recently (meaning at the time of the valuation) prepared audited annual financial statement. 

  

	 	(d)	Cash means U.S. dollars. 

  

	 	(e)	Commission means the United States Securities and Exchange Commission or any successor agency. 

  

	 	(f)	EBITDA means, for the relevant fiscal year, the Company’s operating income (income from continuing operations) determined in accordance with generally accepted
accounting principles in the United States, before interest, taxes, depreciation and amortization, all as determined by reference to the Company’s audited financial statements for such fiscal year. For purposes of the Plan, EBITDA shall include
only those Company operations that existed at the time the Metrics are determined for any fiscal year. If the Company acquires another business during the fiscal year after the Metrics are determined by the Committee for such fiscal year, EBITDA
generated from that business shall be excluded for purposes of determining the Award for that fiscal year. 

  

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	 	(g)	Grant Date means each date on which the Committee grants Awards under the Plan for a fiscal year (which date shall occur after the Committee has reviewed the audited financial
statements for the Company’s fiscal year for which the Award is being made and determined the amount of each Participant’s Award and normally is expected to be within 90 days after the end of each fiscal year. 

  

	 	(h)	Incentive Compensation Plan means the Company’s 2006 Incentive Compensation Plan, as the same may hereinafter be amended from time to time. 

  

	 	(i)	Interest means the U.S. Prime Rate as reported in the Wall Street Journal on the Grant Date. 

  

	 	(j)	Irrevocable Election Agreement means the written agreement, substantially in the form of Exhibit A, between the Company and a Participant, which, together with the Plan,
governs the Participant’s rights to payment of an Award (adjusted for interest and dividends, as applicable) under the Plan. 

  

	 	(k)	Metric and Metrics means EBITDA and Operating Margin Percent. 

  

	 	(l)	Minimum Threshold means minimum achievement of a Metric in order for an Award to be made. For fiscal year 2008, the Minimum Threshold is 70%. For fiscal years after 2008, the
Minimum Threshold will be 80%. 

  

	 	(m)	Operating Margin Percent means, for the relevant fiscal year, a fraction, the numerator of which shall be the Company’s Operating Income (income from continuing
operations before interest and taxes) for such fiscal year and the denominator of which shall be the Company’s Sales for such fiscal year, determined in accordance with generally accepted accounting principles in the United States by reference
to the Company’s audited financial statements for such fiscal year. For purposes of the Plan, Operating Margin Percent shall include only those Company operations that existed at the time the Metrics are determined for any fiscal year. If the
Company acquires another business during the fiscal year after the Metrics are determined by the Committee for such fiscal year, Operating Margin Percent generated from that business shall be excluded for purposes of determining the Award for that
fiscal year. 

  

	 	(n)	Plan means this 2008 Casual Male Retail Group, Inc. Long-Term Incentive Plan. 

  

	 	(o)	Separation from Service means the voluntary or involuntary severing of employment from the Company for any reason other than the Participant’s death or Disability,
determined in a manner consistent with the requirements of Section 409A(a)(2)(A)(i) of the Code and the Treasury Regulations and other guidance issued thereunder. 

  

	 	(p)	Target Cash Value means the amount in US Dollars determined by: multiplying a Participant’s combined actual annual base salary (which is the blend of salary plus any
salary adjustments made during the course of the relevant fiscal year) by the long-term incentive program percentage designated in such Participant’s executed Employment Agreement with the Company (or the percentage as otherwise designated in
the Company’s records). 

  

	 	(q)	Treasury Regulations means the regulations promulgated by the United States Treasury Department with respect to the Code, as amended from time to time.

  

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 Section 3. Establishment of Fiscal Year Target and Awards 
 Within 90 days after the start of each fiscal year of the Company, the Compensation Committee of the Board of Directors (the “Committee”) will determine the
target for each Metric for such fiscal year under the Plan. Each Metric will have equal weight in determining the Award. Upon receiving the Company’s year-end audited financial statements for such fiscal year, the Committee will calculate the
amount of the Award for each Participant by first calculating the portion of the Award attributable to each Metric and then adding together those results. To do so, the Committee will first determine such Participant’s Target Cash Value and
multiply it by the percentage of target actually achieved for each Metric (as set forth in this Section 3) and multiply the result by 50% (consistent with the fact that each Metric is valued at 50% of an Award). In determining a
Participant’s Award, the Committee shall review the Company’s audited financial results and determine whether the Minimum Threshold of each Metric was achieved. Those products will then be added together to determine the Award. Stated
another way, the formula for an Award for a Participant is the sum of two products, each of which is the percent of the target achieved for a Metric multiplied by the Target Cash Value multiplied by 50%. If the actual achievement of either Metric is
less than the Minimum Threshold of the target, then there shall be no Target Cash Value attributable to such Metric. In addition, the actual achievement of either Metric shall be capped at 150% of such Metric’s target. For example (using a
Minimum Threshold of 80%): 
 (a) if EBITDA and the Operating Margin Percent are both less than 80% of their respective target, then no Award
shall be made for such fiscal year; 
 (b) if EBITDA is 75% of its target and the Operating Margin Percent is 90% of its target, and a
Participant has a Target Cash Value of $70,000 (based on a salary of $100,000 and a Plan participation percentage of 70%), then the Award would be valued at $31,500 ($0 for EBITDA Metric) + (90% X $70,000 X 50%) 
 (c) if EBITDA is 100% of its target and the Operating Margin Percent is 100% of its target, and a Participant has a Target Cash Value of $70,000 (based
on a salary of $100,000 and a Plan participation percentage of 70%), then the Award would be valued at $70,000 (100% X $70,000 X 50%) + (100% X $70,000 X 50%); and 
 (d) if EBITDA is 180% of its target and the Operating Margin Percent is 125% of its target, and a Participant has a Target Cash Value of $70,000 (based on a salary of $100,000 and a Plan participation percentage of
70%), then the Award would be valued at $96,250 (150% (cap) X $70,000 X 50%) + (125% X $70,000 X 50%). 
 If a Participant was not employed by the Company
for all of a fiscal year, the Award to such Participant shall be calculated using a pro rata portion of such Participant’s Target Cash Value, such pro rata portion to be determined by dividing the total number of calendar days elapsed during
such fiscal year in which such Participant was actually employed by the Company by the total number of calendar days in such fiscal year. 
  

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 Section 4. Validity; Irrevocable Election 
 A Participant shall elect to receive his or her Award for a given fiscal year by filing an Irrevocable Election Agreement, substantially in the form of Exhibit A attached hereto with the Company by no later than six
(6) months before the close of the fiscal year in which the Award is to be earned. To be effective, a fully executed Irrevocable Election Agreement must be submitted by the Participant to the Company’s Human Resources Department, with a
copy to its General Counsel, prior to the deadline and shall thereafter be irrevocable and non-modifiable. A Participant who does not, for any reason, file an Irrevocable Election Agreement with the Company on a timely basis shall be deemed to have
elected to have his or her entire Award paid in Cash. Each Award election shall remain in full force and effect for the three installment periods referred to below in Section 5. 
 Section 5. Election; Award Determination; and Distribution 
 A Participant shall select in his or her Irrevocable
Election Agreement for a fiscal year the portion of any Award for such fiscal year that will be payable in Cash, Restricted Stock or Options. For the purpose of dividing an Award into the applicable Award Payment Choice, Options shall be valued at
their Black-Scholes Value on the Grant Date of the Award and each Share of Restricted Stock shall be valued at its Fair Market Value on the Grant Date of the Award. 
 In the first year of the Plan (fiscal year 2008), Awards will vest 1/3 immediately upon the Grant Date (which will occur after the audited financial statements are available in 2009 – and is expected to be no
later than 90 days after the close of the 2008 fiscal year) and 1/3 on each of the first and second anniversaries of the Grant Date. Thereafter, Awards will vest in three equal increments on the first, second and third anniversaries of the Grant
Date of the Award. For example, if the Committee determines that Participants are entitled to make elections for the 2009 fiscal year, and grants the Awards on April 1, 2010 the Awards will vest in three equal installments on April 1,
2011, April 1, 2012 and April 1, 2013, respectively. 
  

	 	•	 	 If a Participant elects Cash, the Company shall include Interest on any unpaid installment of the Award from the Grant Date of the Award until payment of such
installment, and payment of each installment (and Interest thereon) shall be made at a time determined by the Company that is within 30 days after the date on which the right to the installment vests. 

  

	 	•	 	 If a Participant elects Restricted Stock, the total number of the Shares to be issued as Restricted Stock will be determined on the Grant Date based upon the Fair
Market Value of a Share on the Grant Date. The Participant may make an election under Section 83(b) of the Code on any portion of the Restricted Stock Award within 30 days after the date on which the Restricted Stock is transferred to the
Participant and the Company shall retain the undistributed shares as custodian for the 

  

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Participant, with the Shares subject to forfeiture due to Separation from Service. Until the Shares vest, the number of Shares is subject to adjustment
pursuant to Section 6 (d) (iv) and Section 10 (c) of the Incentive Compensation Plan. The grant of Restricted Stock shall be evidenced by a Restricted Stock Award Agreement, in such form as shall be approved by the
Committee. 

  

	 	•	 	 If a Participant elects Options, the total number of Options to be issued will be determined and granted as of the Grant Date using the Black-Scholes valuation
method based on the Fair Market Value of a Share on the Grant Date. Until the Options vest, the number of Options is subject to adjustment pursuant to Section 10 (c) of the Incentive Compensation Plan. The grant of an Option shall be
evidenced by a Non-Qualified Stock Option Agreement, in such form as shall be approved by the Committee. 

 Except in the event of a Change
in Control, all unpaid Cash, unvested Restricted Stock and unvested Options to which a Participant would otherwise be entitled shall be forfeited immediately upon the Participant’s Separation from Service. 
 Awards made hereunder are being made pursuant to the Incentive Compensation Plan. In the event that, at the time an Award is granted, the Company does not have a
sufficient number of shares remaining unissued under the Incentive Compensation Plan to issue such Award in Restricted Stock and/or Options, then, regardless of the election made by a Participant, such Award shall be paid in Cash to the
extent of such insufficiency. 
 Section 6. Change in Control. 
 If and to the extent that it would not violate the requirements of Section 409A of the Code, in the event of a Change in Control prior to a Participant’s Separation from Service, the full value of the
Participant’s Award (including any remaining cash installments (and Interest thereon) that otherwise would have been payable to the Participant), shall immediately vest and be distributed as a lump sum to the Participant, as soon as practicable
following the Change in Control. 
 Section 7. No Acceleration of Benefits 
 In no event shall the acceleration of the time or schedule of any payment under the Plan be permitted, except to the extent permitted under Section 409A of the Code and the Treasury Regulations and other
applicable guidance issued thereunder. 
 Section 8. Amendment and Termination 
 This Plan may be amended or terminated in any respect at any time by the Committee; provided, however, that no amendment or termination of the Plan shall be effective to reduce any benefits that accrue and are vested
before the adoption of such amendment or termination. If and to the extent permitted without violating the requirements of Section 

  

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409A of the Code, the Committee may require that the Awards of all Participants (including, without limitation, any remaining benefits payable to
Participants receiving distributions in installments at the time of the termination) be distributed as soon as practicable after such termination, notwithstanding any elections by Participants with regard to the timing or form in which their
benefits are to be paid. If and to the extent that the Committee does not accelerate the timing of distributions on account of the termination of the Plan pursuant to the preceding sentence, payment of any remaining benefits under the Plan shall be
made at the same times and in the same manner as such distributions would have been made based upon the most recent elections made by Participants, and the terms of the Plan, as in effect at the time the Plan is terminated. 
 Section 9. Unfunded Obligation 
 The obligations of the Company
to pay any benefits under the Plan shall be unfunded and unsecured, and any payments under the Plan shall be made from the general assets of the Company. Participants’ rights under the Plan are not assignable or transferable except to the
extent that such assignment or transfer is permitted under the terms of the Incentive Compensation Plan. 
 Section 10. Withholding 

The Participants and personal representatives shall bear any and all federal, state, local or other taxes imposed on benefits under the Plan. The Company may deduct
from any distributions under the Plan the amount of any taxes required to be withheld from such distribution by any federal, state or local government, and may deduct from any compensation or other amounts payable to the Participant the amount of
any taxes required to be withheld with respect to any other amounts under the Plan by any federal, state or local government. 
 Section 11
Applicable Law 
 This Plan shall be construed and enforced in accordance with the laws of the State of Delaware, except to the extent superseded by
federal law. 
 Section 12. Administration and Interpretation 
 The Plan will be administered by the Committee. The Committee will have broad authority to determine target Metrics, select performance objectives, adopt rules and regulations relating to the Plan and make decisions
and interpretations regarding the provisions of the Plan. Benefits due and owing to a Participant under the Plan shall be paid when due without any requirement that a claim for benefits be filed. However, any Participant who has not received the
benefits to which Participant believes himself or herself entitled may file a written claim with the Committee, who shall act on the claim within thirty days. Any decisions or interpretations by the Committee relating to benefits under the Plan
shall be binding and conclusive on all affected parties. 
  

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 Section 13. Code Section 409A 
 It is intended that the Awards granted pursuant to this Plan be exempt from Section 409A of the Code (“Section 409A”) because it is believed (i) the Awards payable in cash should qualify for the
short-term deferral exception contained in Treasury Regulation §1.409A-1(a)(4), (ii) any Options granted pursuant to the Plan will have an exercise price that may never be less than the Fair Market Value of a Share on the Grant Date and
the other requirements for the exemption of such options under Treasury Regulation §1.409A-1(a)(5)(i)(A) should be met; and (iii) any Shares of Restricted Stock granted under the Plan should be exempt as an award of restricted property
pursuant to Treasury Regulation §1.409A-1(a)(6). The provisions of the Plan shall be interpreted in a manner consistent with that intent. 
 The
Committee, in its sole discretion, and without the consent of any Participant or Beneficiary, may amend the provisions of this Plan to the extent that the Committee determines that such amendment is necessary or appropriate in order for the Awards
made pursuant to the Plan to be exempt from the requirements of Section 409A, or if and to that the Committee determines that Awards are not so exempt, to amend the Plan (and any agreements relating to any Awards) in such manner as the
Committee determines shall deem necessary or appropriate to comply with the requirements of Section 409A. 
 Notwithstanding the foregoing, the Company
does not make any representation to any Participant or Beneficiary that the Awards made pursuant to this Plan are exempt from, or satisfy, the requirements of Section 409A, and the Company shall have no liability or other obligation to
indemnify or hold harmless any Participant or Beneficiary for any tax, additional tax, interest or penalties that the Participant or Beneficiary may incur in the event that any provision of the Plan or any Award agreement, or any amendment or any
modification thereof, or any other action taken with respect thereto, is deemed to violate any of the requirements of Section 409A. 
 THIS SPACE IS LEFT BLANK INTENTIONALLY 
  

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 EXHIBIT A 
 2008 CASUAL MALE RETAIL GROUP, INC. 
 LONG-TERM INCENTIVE PLAN AWARD 
 IRREVOCABLE ELECTION AGREEMENT 
 TO:
    Sr. V.P. Human Resources (cc: General Counsel): 
 I,
                                        
            , hereby elect to receive my 2008 Casual Male Retail Group, Inc. Long-Term Incentive Plan (the “Plan”) Award (as defined in the Plan) as follows: 
  

										
	 Award Payment Choices
	  	1st Installment	 	 	2nd Installment	 	 	3rd Installment	 
	 Cash
	  	                    	%	 	                    	%	 	                    	%
				
	 CMRG Restricted Stock
	  	                    	%	 	                    	%	 	                    	%
				
	 CMRG Stock Options
	  	                    	%	 	                    	%	 	                    	%
				
	 Total:
	  	100	%	 	100	%	 	100	%
		  	 	 	 	 	 	 	 	 

 [NOTE: Payments will vest in three (3) equal installments. You have the opportunity to decide the Award
Payment Choice(s): cash, CMRG restricted stock or CMRG stock options for each equal installment. Your selected option(s) for any given year must equal 100%.] 
 I understand and acknowledge that this election is irrevocable and will remain in effect up through the third and final installment. 
 I understand
and acknowledge that I must be employed on the dates each portion of the Award vests in order to qualify for payment of that installment. 
 I understand and
acknowledge that if there is any conflict between this form or any part of it and the Plan, the provisions of the Plan shall govern. 
 I have hereunto set
my hand and seal this          day of                     , 2008. 
  

	
	  

	(Signature)
	
	  

	(Printed name)2008 Sales Compensation Plan for the Vice President of Worldwide Sales

 EXHIBIT 10.2 
 Ikanos Communications, Inc. 
 2008 Sales Compensation Plan 
 For Vice President Worldwide Sales 
  

	1.	Purpose 

  

	 	1.1.	Attraction, retention and motivation. The goal of this plan is to attract, retain, and motivate the VP of WW Sales through clearly specified sales goals and a
pay-for-performance philosophy. 

  

	 	1.2.	Communicate the company goals. Another goal of the Plan is to communicate what the company wants you to focus on: 

  

	 	1.2.1.	Exceeding quarterly and annual revenue targets 

  

	 	1.2.2.	Exceeding quarterly and annual margin targets for VP of WW Sales 

  

	 	1.2.3.	Winning OEM designs and launching new products 

  

	 	1.2.4.	Teamwork to specific company goals 

  

	2.	Overview 

 The Ikanos 2008 Sales Compensation Plan is composed of:

  

	 	2.1.	Salary 

  

	 	2.2.	Performance Pay 

  

	 	2.2.1.	Commission based on meeting Quarterly Target Revenue Goals for VP of WW Sales 

  

	 	2.2.2.	Annual Commission based on exceeding Annual Target Revenue Goals for VP of WW Sales 

  

	 	2.2.3.	Incentive Goals for achieving specific goals 

  

	 	2.3.	Equity Awards 

  

	 	2.4.	Benefits 

  

	 	2.5.	Car Allowance 

  

	3.	Definitions 

  

	 	3.1.	Performance Pay – Variable compensation calculated based on performance to goals and paid on a quarterly and annual basis. 

  

	 	3.2.	Salary – Compensation usually referred to as “Base Salary” paid on a regular basis. 

  

	 	3.3.	Commission – Compensation that varies as a function of performance against assigned tasks or goals. 

  

	 	3.4.	Incentives – to reward and motivate employees to complete design goals or MBO’s in a specific quarter. 

  

	 	3.5.	Benefits – A form of compensation allocated to or for the purchase of employee benefits such as company health care plan/s. In some cases, the employee may pay some portion of
the cost of these benefits 

  

	 	3.6.	Target Customers – OEM’s, Distributors or Contract Manufacturers that purchase products or services from Ikanos. 

  

	 	3.7.	Target Design In/Win – Ikanos chipsets that have fulfilled a system vendor’s specifications and have been designed into a specific end product. 

 

	 	3.8.	Target Commission – Variable compensation amount limited to a specific time period. 

  

	 	3.9.	Quarterly Target Revenue Goal – Quarterly revenue target toward which the effort of an employee is directed. 

  

	 	3.10.	Annual Target Revenue Goal – Fiscal year revenue target toward which the effort of an employee is directed. 

  

	 	3.11.	Actual Revenue – Net revenue that has been reported by the company following any necessary review or audit by the Company’s independent CPA’s.

  

	 	3.12.	Teamwork – Work and activities of a group of employees who individually contribute to the productivity of the whole. 

	 	3.13.	Sales Teams – A group of employees associated together in work or activities. 

  

	 	3.14.	OEM – Original Equipment Manufacturer that typically sells and supports equipment to Telco’s. 

  

	 	3.15.	Design Win Stages – stages to take a design from introduction to production. Exhibit A 

  

	 	3.16.	Quarterly Performance Objectives (QPO) – listing of design goals for a specific quarter Exhibit B 

  

	4.	Eligibility 

  

	 	4.1.	The VP of WW Sales while employed by the Company. 

  

	5.	Timeframes 

  

	 	5.1.	The following Table 1 determines the deadlines involved in the calculation and payment of your commissions and incentives. 

  

	 	5.2.	Incentive Goals must be approved prior to the dates below by the CEO. 

  

	 	5.3.	In the event that a scored Incentive Goal is not submitted by the VP of WW Sales before the deadline then the Incentive Goal shall not be paid for that specific quarter.

 In the event of a delay in disbursement of payment not related to the VP of WW Sales or his staff, the VP of WW Sales will be eligible for a
recoverable draw for the amount of 50% of your performance pay for that quarter. 
 Table 1. Deadlines 
  

									
	 Deadlines 2008
	  	 Q1
	  	 Q2
	  	 Q3
	  	 Q4

					
	 Sales – Last day to ship Products
	  	Mar 30th	  	Jun 29th	  	Sept 28th	  	Dec 28th
					
	 Sales – DW/MBO claim forms submitted to Sales Ops.
	  	April 7th	  	July 7th	  	Oct 6th	  	Jan 7th, 2009
					
	 Sales Ops submits quarterly DW/MBO claim forms to Finance
	  	Apr 15th	  	Jul 15th	  	Oct 14th	  	Jan 14th, 2009
					
	 Finalized Quarterly DW Targets and MBOs
	  	Feb 4th	  	July 18th	  	Oct 17th	  	Jan 16th, 2009
					
	 Finance – audited non-GAAP revenue submitted to Sales
	  	April 22nd	  	July 22nd	  	Oct 21st	  	Jan 28th, 2009
					
	 Sales – detailed worksheet of commission calculation submitted to Finance
	  	April 25th	  	July 25th	  	Oct 24th	  	Jan 30th, 2009
					
	 Finance - Complete review of commission worksheet and signed off by CFO & VP of HR
	  	May 1st	  	July 31st	  	Oct 31st	  	Feb 6th, 2009
					
	 HR – PANs Completed
	  	May 2nd	  	Aug 3rd	  	Nov 1st	  	Feb 7th, 2009
					
	 CEO review two days following receipt of PANs
	  	May 4th	  	Aug 6th	  	Nov 2nd	  	Feb 8th, 2009
					
	 Payroll – Payments
	  	US Employees: May 23rd	  	US Employees: Aug 15th	  	US Employees: Nov 21st	  	 US Employees:
 Feb 13th

					
	Disbursed 	  	International: 1st Payroll in May	  	International: 1st Payroll in Aug	  	International: 1st Payroll in Nov	  	International: 1st Payroll in Feb

	6.	Salary 

  

	 	6.1.	The Company will pay participants a regular fixed salary paid in 26 (US employees) or 12 (international office employees) pay periods based on your Plan Summary.

  

	7.	Commission on Revenue 

  

	 	7.1.	Calculation of Quarterly Revenue Commission. Quarterly Revenue Commission shall be calculated as follows unless otherwise limited in your Plan Summary:

 Quarterly Revenue Commission = 
 If Actual Quarterly Revenue attainment is between 0 and 79.9% of Target Quarterly Revenue: 
 (Actual
Quarterly Revenue/Target Quarterly Revenue)*Target Quarterly Commission*.5 
 If Actual Quarterly Revenue attainment is between 80% and 100%
of Target Quarterly Revenue: 
 (Actual Quarterly Revenue/Target Quarterly Revenue)*Target Quarterly Commission 
 If Actual Quarterly Revenue attainment is between 100.1% and 120% of Target Quarterly Revenue: 
 (Actual Quarterly Revenue/Target Quarterly Revenue)*Target Quarterly Commission*1.5 
  

	 	7.2.	Overattainment of Quarterly Revenue and Commission. To the extent that commissions are attributable to your Actual Quarterly Revenue being greater than 100% of your Target
Quarterly Revenue, 50% of the commission attributable to the Actual Quarterly Revenue that exceeds 100% of your Target Quarterly Revenue shall be earned at the end of the quarter and paid at the time the Quarterly Revenue Commission payment is made
for the first three quarters of the fiscal year. The remaining 50% of the quarterly commission attributable to the attainment of greater than 100% of your Target Quarterly Revenue shall not be earned or payable unless your Actual Annual Revenue is
at least 100% of your Target Annual Revenue. 

  

	 	7.3.	Calculation of Annual Revenue Commission. If your Actual Annual Revenue is over 100% of your Target Annual Revenue, then you are eligible for the Annual Revenue Commission.
Annual Revenue Commission shall be calculated as follows: 

 Annual Revenue Commission = 2*((Actual Annual Revenue/Target
Annual Revenue)-1)*Target Annual Revenue Commission 
  

	 	7.4.	No Cap on Commissions. Annual Commission on Revenue shall not be capped. 

  

	8.	Incentive (DW/MBO) Goals 

  

	 	8.1.	Incentive Goals. To qualify for Incentive Goals, the incentive must be listed and signed off by the CEO within timelines established herein. 

  

	 	8.2.	Claiming Incentive Goals. VP of WW Sales completes the achievement form and provides the supporting documents as specified in Exhibit A within the timelines established
herein. 

  

	 	8.3.	Calculation of Incentive Achievement. Incentives Achievement shall be calculated as a percentage times the quarterly target DW/MBO incentive as listed in the plan summary.

  

	 	8.4.	Overachievement of Incentive Goals. You have the opportunity to exceed your incentive goals up to a maximum of 50% of your quarterly target design in/win incentive, by
initiating or completing tasks that are financial or strategically significant to the company. The CEO will determine the award. 

	9.	First quarter of employment guarantee 

  

	 	9.1.	From your employment start date with the Company or any of its subsidiaries to end of the company’s fiscal quarter since your employment, your Performance Pay as defined in
your Plan Summary shall be paid at 100% (pro-rated for the numbers of calendar days you were employed in that quarter). 

  

	10.	Other Duties 

  

	 	10.1.	From time to time you may be assigned to perform other duties. These might include, but are not limited to, such tasks as collecting market research data, arranging press tours,
participating in technical standards meetings, language translation, and setting up trade show booths. Such duties are a normal part of your job for which the company pays you a salary. Other duties may be assigned by your supervisor.

  

	11.	Employee Benefits 

  

	 	11.1.	You will be eligible to participate in the company employee benefits programs - See HR. 

  

	12.	Termination of Employment 

  

	 	12.1.	If your employment is terminated (voluntary or involuntary), you will be eligible for a pro-rated % of your target performance pay calculated as follows: 

 

	 	12.1.1.	(Days worked in the quarter / Days in the quarter) * your Earned Quarterly Revenue Commission. (Days are calendar days). 

  

	 	12.1.2.	No payment for Annual Revenue Commission or Overachievement of OEM Design In/Win. 

	 	

	 	12.1.3.	Incentive Goals Claim Forms and the evidence of the achievement must be submitted before your last day of employment occurring between the first day of the quarter and the date your
termination. The dollar amount shall be calculated as specified in Section 8. 

  

	13.	Changes to the Compensation Plan 

  

	 	13.1.	The company may change quotas, commissions, or any other part of this plan at any time. 

  

	14.	With-Holding 

  

	 	14.1.	Commissions paid to employees will be subject to the standard with-holding requirements of the country from which they are paid. 

 Sections 15-18 intentionally omitted 
  

	19.	General Provisions 

  

	 	19.1	This plan does not constitute an employment agreement and does not replace Ikanos’ “at-will” employment policy. This plan supersedes all prior plans.

 Section 20 intentionally omitted 
  

	21.	Approvals 

  

					
			
	/s/ Mike Gulett	 		 	4/17/08
	Mike Gulett, Chairman of Compensation Committee	 		 	Date
			
	/s/ Nick Shamlou	 		 	4/17/08
	Nick Shamlou, VP Worldwide Sales	 		 	Date
			
	/s/ Cory Sindelar	 		 	4/21/08
	Cory Sindelar, CFO	 		 	Date
			
	/s/ Noah Mesel	 		 	4/17/08
	Noah Mesel, VP of HR	 		 	Date
			
	/s/ Michael Ricci	 		 	4/17/08
	Michael Ricci, President and CEO	 		 	Date

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