ADBE » Topics » will receive

These excerpts taken from the ADBE 8-K filed Mar 23, 2006.
will receive a pro-rated portion of your Annual Incentive Plan bonus for FY 2006, which award will be based on your AIP target percentage (65%) multiplied by your actual base salary earnings during FY 2006 and actual corporate results.   Any AIP bonus earned will be paid to you in accordance with the payment terms of the AIP, which is expected to be on or about January 2007; and

 

                  nothing in this agreement alters your “at will” employment status with the Company.

 



 

Please sign and date this agreement in the spaces below to confirm your acceptance of its terms.

 

Sincerely,

 

Adobe Systems Incorporated

 

By:

/s/ Peg Wynn

 

 

Its:

Senior Vice President, Human Resources

 

 

 

I agree to and accept the terms of this Employment Transition Agreement.

 

 

/s/ Murray Demo

 

Dated: March 22, 2006

 

Murray Demo

 

 


will receive a pro-rated portion of his Annual Incentive Plan (“AIP”) bonus for fiscal 2006, which award will be based on his AIP target percentage multiplied by his actual base salary earnings during fiscal 2006 and actual corporate results. Any AIP bonus earned will be paid to Mr. Demo in accordance with the payment terms of the AIP, which is expected to be paid in January 2007.

 

If Mr. Demo begins employment for another company at any time prior to December 2, 2006, his employment with the Company will terminate on the day immediately preceding the start of such alternate employment, and all Adobe benefits and bonus programs will terminate in accordance with the terms of the respective plans and programs, except with respect to the AIP as described above.

 

The foregoing description of the Transition Agreement is qualified in its entirety by reference to the Transition Agreement, a copy of which is attached to this report as Exhibit 10.1.

 

EXCERPTS ON THIS PAGE:

8-K (2 sections)
Mar 23, 2006
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