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MRVL » Topics » Potential Payments in the Event of Termination at the End of our Last Fiscal Year

This excerpt taken from the MRVL DEF 14A filed May 29, 2009.

Potential Payments in the Event of Termination at the End of our Last Fiscal Year

The following table shows the potential payments that would have been made to Mr. Hosein had (i) a termination without cause or, his resignation for good reason, occurred as of January 31, 2009, in each case unrelated to a change-in-control of the company, and (ii) within twelve months of the consummation of a change-in-control, a termination without cause or, his resignation for good reason, occurred as of January 31, 2009. On the last trading day of fiscal 2009, our closing stock price as reported on Nasdaq was $7.29 per share.

 

     Base
Salary
($)		    Bonus
($)		    Value of
Accelerated
Stock
Options
($)		    Forgiveness
of Bonus
Repayment
($)		    Accrued
Vacation
Payout
($)		    Total
($)

Without Change-in-Control

    450,000    360,000    —      —      13,708    823,708

With Change-in-Control

    450,000    360,000    —      233,333    13,708    1,057,041

 

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