Schedule of Executive Officer and Director Compensation for 2007
Set forth below is a description of the compensation that MathStar, Inc. determined to pay its executive officers (defined in Item 402(a)(3) of Regulation S-K) in their current positions for the year ending December 31, 2007.
Name |
| 2007 Base Salary |
| Potential Bonus |
| ||
Douglas M. Pihl, |
| $ | 220,000 |
| 110,000 |
| |
Ronald K. Bell, |
| $ | 240,000 |
| — |
| |
Daniel J. Sweeney, |
| $ | 180,000 |
| $ | 90,000 |
|
Glen Wiley, |
| $ | 150,000 |
| $ | 130,000 |
|
James W. Cruckshank, |
| $ | 175,000 |
| $ | 87,500 |
|
Sean P. Riley, |
| $ | 170,000 |
| $ | 65,000 |
|
Timothy A. Teckman, |
| $ | 150,000 |
| $ | 60,000 |
|
(1) |
| Reflects the maximum potential bonus the named officer could earn under this bonus plan adopted by the Compensation Committee. |
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(2) |
| For 2007, Mr. Wiley’s bonus is based on the achievement of certain design wins and revenue goals. |
Schedule of Director Compensation for 2007
Set forth below is a description of the compensation that MathStar, Inc. determined to pay to its directors for the year ending December 31, 2007.
Retainer: |
| $1,500 per quarter |
Board Meeting Fee |
| $750 per meeting |
Audit Committee: |
| $1,000 per meeting for chairman, $750 meeting for other members |
Other Committees: |
| $750 per meeting for chairman, $500 per meeting for other members |
Equity Compensation to Non-Employee Directors
Initial Option Grant: |
| To new non-employee directors, ten-year option to purchase 25,000 shares, vesting over three years on the first, second and third anniversary dates of the date of grant if the director is then a director of MathStar, at an exercise price equal to the exercise price of the common stock on the date of grant. |
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Annual Grant: |
| Upon the re-election of each non-employee director to the board, ten-year option to purchase 5,000 shares, vesting one year after grant if the director is then a director of MathStar, at an exercise price equal to the exercise price of the common stock on the date of grant. |