Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - VOLTERRA SEMICONDUCTOR CORP | d8k.htm |
| EX-10.2 - MANAGEMENT BONUS PLAN - VOLTERRA SEMICONDUCTOR CORP | dex102.htm |
Exhibit 10.1
2011 Executive Officer Compensation
On January 21, 2011, the Compensation Committee of the Board of Directors of Volterra Semiconductor Corporation (the “Company”) approved certain compensation matters for its executive officers.
The Compensation Committee did not change base salaries for the executive officers from existing levels, but did approve: (i) 2011 option grants; (ii) bonuses under the Company’s 2010 Management Bonus Plan and (iii) additional performance based bonuses for individual performance in 2010:
| Name and Title |
2011 Option Grants |
2010 Bonus |
Additional Performance Bonus |
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| Jeff Staszak |
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| President and Chief Executive Officer |
140,000 | $ | 346,500 | $ | 75,000 | |||||||
| Mike Burns |
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| Vice President, Finance and Chief Financial Officer |
33,000 | $ | 150,000 | |||||||||
| Bill Numann |
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| Senior Vice President, New Product Development |
40,000 | $ | 141,000 | $ | 40,000 | |||||||
| Craig Teuscher |
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| Senior Vice President, Operations, Mnfg. Eng. & Quality Assurance |
40,000 | $ | 144,000 | $ | 30,000 | |||||||
| Tom Truman |
||||||||||||
| Vice President, World Wide Sales |
33,000 | $ | 107,625 | $ | 25,000 | |||||||
Under the Company’s standard option grant procedures, these option grants shall be made on the fourth business day following the release of the Company’s Q4 2010 earnings information.
2011 Non-Employee Director Compensation
On January 21, 2011, the Company’s Board of Directors, upon the recommendation of the Compensation Committee, revised the cash compensation of the non-employee directors, to increase the annual cash retainer for the Chairman of the Board of Directors from $10,000 to $20,000 and to increase the annual cash retainer for each member of the Board of Directors from $25,000 to $35,000.
Following these approvals, the annual cash retainer for service on the Company’s Board and Committees shall be:
| Chairman of the Board of Directors: |
$ | 20,000 | ||
| Member of Board of Directors: |
$ | 35,000 | ||
| Member of Audit Committee: * |
$ | 7,000 | ||
| Member of Compensation Committee: * |
$ | 3,500 | ||
| Member of Nominating and Governance Committee:* |
$ | 2,500 | ||
| Audit Committee Chair:* |
$ | 15,000 | ||
| Compensation Committee Chair:* |
$ | 7,000 | ||
| Nominating and Governance Committee Chair:* |
$ | 5,000 |
| * | represents no change from previously approved compensation |