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RVBD » Topics » Steven McCanne, Ph.D.

This excerpt taken from the RVBD DEF 14A filed Apr 24, 2009.

Steven McCanne, Ph.D.

The following table describes the potential payments and benefits upon employment termination before or after a change in control for Dr. McCanne, our Chief Technology Officer, as if his employment terminated as of December 31, 2008, the last business day of our last fiscal year.

 

Executive Benefits

and Payments

Upon Termination

   Voluntary
Resignation
Not for Good
Reason ($)		   Voluntary
Resignation
for Good
Reason ($)		   Termination
by Company
Not for Cause
($)		   Termination
by Company
For Cause
($)		   Change in
Control
($)		     Involuntary
Termination in
connection
with or
following
Change in
Control
($)		  

Compensation:

            

Base Salary

   —   —   —   —   —     —  

Highest Target Bonus

   —   —   —   —   —     —  

Last Fiscal Year Target Bonus

   —   —   —   —   —     —  

Unvested Option Shares and Unexercisable Options Accelerated

   —   —   —   —   1,696,295 (1)   2,832,081 (2)

Benefits and Perquisites:

            

Health Care Premiums/Contributions

   —   —   —   —   —     —  

Accrued Vacation Pay (3)

   21,154   21,154   21,154   21,154   21,154     21,154  
                           

Total

   21,154   21,154   21,154   21,154   1,717,449     2,853,235  
                           

 

(1) Represents 25% of the unvested shares subject to options granted in 2005 and 2006 held by Dr. McCanne that will vest upon a change in control.

 

(2) Represents 25% of the unvested shares subject to options granted in 2005 and 2006 to Dr. McCanne that will vest upon a change in control plus an additional 50% of such shares that will vest if he is involuntarily terminated within 12 months after a change in control. Also represents 100% of the unvested RSUs granted in 2008 that will vest if he is involuntarily terminated within 12 months after a change in control. Unvested stock options granted to Dr. McCanne in 2007 and 2008 will vest with respect to 100% of such shares if he is involuntarily terminated within 12 months of a change in control. Such unvested stock options are not included in the table above due to the option exercise price of the shares being greater than the value of the Company’s common stock as of December 31, 2008.

 

(3) Assumes that Dr. McCanne had four weeks of accrued but unused vacation, which was paid based on his annual base salary for the last fiscal year.

 

38

Table of Contents
This excerpt taken from the RVBD DEF 14A filed Apr 25, 2008.

Steven McCanne, Ph.D.

The following table describes the potential payments and benefits upon employment termination before or after a change in control for Dr. McCanne, our Chief Technology Officer, as if his employment terminated as of December 31, 2007, the last business day of our last fiscal year.

 

Executive Benefits

and Payments

Upon Termination

   Voluntary
Resignation
Not for Good
Reason ($)		   Voluntary
Resignation
for Good
Reason ($)		   Termination
by Company
Not for Cause
($)		   Termination
by Company
For Cause
($)		   Change in
Control
($)		     Involuntary
Termination in
connection
with or
following
Change in
Control
($)		  

Compensation:

            

Base Salary

   —   —   —   —   —     —  

Highest Target Bonus

   —   —   —   —   —     —  

Last Fiscal Year Target Bonus

   —   —   —   —   —     —  

Unvested Option Shares and Unexercisable Options Accelerated

   —   —   —   —   8,689,000 (1)   14,383,432 (2)

Benefits and Perquisites:

            

Health Care Premiums/Contributions

   —   —   —   —   —     —  

Accrued Vacation Pay (3)

   19,231   19,231   19,231   19,231   19,231     19,231  
                           

Total

   19,231   19,231   19,231   19,231   8,708,231     14,402,663  
                           

 

(1) Represents 25% of the shares subject to options held by Dr. McCanne that will vest upon a change in control.

 

(2) Represents 25% of the shares subject to options granted to Dr. McCanne that will vest upon a change in control plus an additional 50% of such shares that will vest if he is involuntarily terminated within 12 months after a change in control.

 

(3) Assumes that Dr. McCanne had four weeks of accrued but unused vacation, which was paid based on his annual base salary for the last fiscal year.

 

36

Table of Contents

EXCERPTS ON THIS PAGE:

DEF 14A
Apr 24, 2009
DEF 14A
Apr 25, 2008

RELATED TOPICS for RVBD:

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