EXHIBIT 10.1
SIMTEK CORPORATION
4250 Buckingham Drive, Suite 100
Colorado Springs, CO 80907
Executive Incentive Compensation Plan
Recruit, Reward, & Retain the Best
Executives
Simtek Executive Incentive Compensation
Plan
Purpose of this document
This document is the full and complete description of
Simtek’s Executive Incentive Compensation Plan (THE PLAN) as
approved by the Compensation Committee of the Board of Directors
for fiscal year 2008. THE PLAN is comprised of this document
including the Exhibits attached hereto, and may be amended only in
writing with the approval of the CEO and appropriate Compensation
Committee review and approval as needed. Described within
this document are the goal of THE PLAN, participants and
eligibility, the structure of the plan, the method of computing
payout under the terms of THE PLAN, payment schedule, and Exhibit 1
representing the metrics which are to be measured as part of THE
PLAN with the individual and group metrics for these metrics.
Goal of THE PLAN
The goal of THE PLAN is to use goal-based incentive compensation to
enable the Company to effectively recruit, reward, and retain key
executives whose contribution is deemed critical to helping the
Company achieve its plans and to contribute to enhanced shareholder
value.
Participants and Terms of Eligibility
Eligible participants include specifically identified officers of
the Company. The list of eligible participants may be changed
from time to time based on the decision of the CEO or the
Compensation Committee. For 2008, the complete list of
eligible participants in THE PLAN includes:
President and Chief Executive Officer
Vice President and Chief Financial Officer
President of AgigA Tech
Vice President of Engineering
Vice President of Sales
Managing Director – Simtek GmbH
Vice President of Operations
Vice President of Marketing
Vice President and Senior Technical Advisor
Vice President of Quality and Reliability Assurance
2
At 100% completion of each of the goals (pay factors) against which
an executive is measured, that executive would be eligible to earn
the amount specified as his or her target incentive. In the
case of the CEO, CFO, and President of AgigA Tech, target incentive
is set at 50%, 50%, and 33% of base salary respectively and can
range up to 100%, 75%, and 50% of ba
