This excerpt taken from the AFFY DEF 14A filed Apr 24, 2007.
Actions for 2006
· Base Salary. In December 2005, the Board of Directors approved a $9,200 increase in 2006 base salary to $238,375 effective January 1, 2006, which represents a 4% increase from the prior years salary.
· Annual Performance Bonus. In January 2007, the Board of Directors awarded Mr. Mahdavi a cash bonus of $44,099 related to 2006 performance (based upon achievement of 85% of the corporate goals and 100% of his individual goals) representing 18.5% of his 2006 base salary.
· Equity Incentives. In February 2006, the Compensation Committee granted Mr. Mahdavi stock options exercisable for 7,500 shares (adjusted for the one-for-four reverse stock split) with an exercise price of $4.36 per share (adjusted for the one-for-four reverse stock split). The stock options vest in 48 equal monthly installments over the four (4) year period beginning on January 1, 2006.