SNPS » Topics » CORPORATE PERFORMANCE AND RELATED PAYOUT

This excerpt taken from the SNPS 8-K filed Dec 12, 2005.

CORPORATE PERFORMANCE AND RELATED PAYOUT

 

To achieve funding of the Operating Plan Incentive, the Company must achieve in aggregate 100% of the designated fiscal target on or before the specified target date.

 

If the Company does achieve its target within the specified time frame, individuals will receive their fiscal year cash award, and 50% of their OPI stock option grant will vest in accordance with the performance vesting criteria specified in the grant document.  In year two, should the Company achieve the Approved Annual Financial Target, participants will receive the second year cash award and the remaining 50% of their OPI stock option grant will vest.

 

If the Company does not achieve its Approved Annual Financial Targets within the specified time frame, individuals participating in the plan will not receive their target cash awards, and the OPI stock option grant will not vest.

 

The maximum payout an executive may earn each year is the target payout.

 

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