BROADCOM CORPORATION 2006 PERFORMANCE BONUS PLANEmployee Bonus Plan Agreement |
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EXHIBIT 10.1
BROADCOM
CORPORATION
2006
PERFORMANCE BONUS PLAN
I.
PURPOSES OF THE PLAN
A. The Broadcom Corporation 2006 Performance
Bonus Plan (the "Plan")
is intended to promote the interests of Broadcom Corporation (the
"Company") and
its shareholders by establishing a compensation program to provide executives
and other key employees with incentive awards tied to the achievement of goals
relating to the performance of the Company and/or the achievement of individual
performance goals.
B. The Plan shall be in effect for the
Company's fiscal year ending
December 31, 2006 (the "Plan Year"), and bonuses may be earned under
the Plan on
the basis of the Company's financial performance for such Plan Year.
II.
PLAN ADMINISTRATION
A. The Plan shall be administered by the
Compensation Committee of
the Company's Board of Directors. The Compensation Committee in its capacity as
administrator of the Plan (the "Plan Administrator") shall have full
power and
authority (subject to the express provisions of the Plan) to:
(i) establish the performance objectives to be
attained for the
Plan Year in order for participants to become entitled to bonus payments under
the Plan; and
(ii) determine the actual
bonus (if any) to be paid to each
participant based on actual performance relative to the established objectives
for the Plan Year.
B. The Plan Administrator shall also have full
power and authority
to interpret and construe the provisions of the Plan, to adopt rules and
regulations for the administration of the Plan and to determine an individual's
eligibility for participation in the Plan and the amount of the actual bonus
(if
any) to be paid to him or her.
C. Decisions of the Plan Administrator shall be
final and binding
upon all parties who may have an interest in the Plan or any bonus amount
payable under the Plan.
III. PARTICIPATION
A. The individuals who shall participate in the
Plan for the Plan
Year shall be limited to (i) the executive officers of the Company, (ii) all
other employees of the Company (or its subsidiaries) at the level of Director
or
above and (iii) any other employees of the Company (or its subsidiaries)
identified by the Company's Chief Executive Officer as key contributors to the
Company's growth and financial success and selected for participation in the
Plan by the Plan Administrator.
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B. A participant shall cease to participate in
the Plan and shall
not be entitled to any bonus payment under the Plan if that participant ceases
Employee status for any reason prior to the date that bonuses are paid under
the
Plan (the "Distribution Date"); provided, however, that:
(i) a participant who ceases Employee status
prior to the
Distribution Date by reason of death
or Disability may be entitled to
receive a pro-rated bonus based upon
the number of days which such
individual remained in active
Employee status during the Plan Period (as
defined below); and
(ii) the Plan
Administrator shall have complete discretion to
make individual bonus awards under
Article V of the Plan to one or more
participants who terminate Employee
status for any other reason prior to
the Distribution Date, when the Plan
Administrator deems the special
circumstances of the participant's
termination warrant a bonus award under
the Plan.
C. For purposes of the Plan:
(i) A participant shall be deemed to have ceased
Employee status
by reason of a DISABILITY if such
cessation of Employee status is
occasioned by his or her inability
to engage in any substantial gainful
activity by reason of any medically
determinable physical or mental
impairment which is expected to
result in death or has lasted or can be






