CY » Topics » APPROVAL OF CYPRESSS PERFORMANCE BONUS PLAN

This excerpt taken from the CY DEF 14A filed Apr 7, 2008.

APPROVAL OF CYPRESS’S PERFORMANCE BONUS PLAN

On March 24, 2008, our Board of Directors unanimously approved the Performance Bonus Plan (the “Bonus Plan”) and directed that the Bonus Plan be submitted to stockholders at the Annual Meeting. If approved by our stockholders, the plan will be effective for the Company’s current fiscal year. If the Bonus Plan is not approved by stockholders, targets under the Bonus Plan previously set by the Compensation Committee will be null and void and no payments relating to those targets will be made. This summary is qualified in its entirety by reference to the Bonus Plan itself set forth in Appendix B.

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