Exhibit 99.1
Summary of Certain Compensatory Arrangements
for the Executive Officers of Spansion Inc.
The executive officers of Spansion Inc. (the “Company”) are eligible, under the Company’s Pay for Performance Plan for fiscal 2007 (the “2007 Plan”), to receive cash bonuses for fiscal 2007, which are paid during fiscal 2008. The amount of the cash bonuses is based in part on three corporate performance measures (operating profit, the Company’s share of the NOR segment of the Flash memory market, and percentage of revenue from specified advanced technologies for fiscal 2007), and in part on individual performance objectives. On March 10, 2008, the Compensation Committee of the Board of Directors (the “Compensation Committee”) approved the amount and payment of cash bonuses to the Company’s executive officers, excluding the Chief Executive Officer, under the 2007 Plan. On March 12, 2008, the Compensation Committee approved the amount and payment of a cash bonus to the Company’s Chief Executive Officer under the 2007 Plan.
The cash bonus amounts paid under the 2007 Plan to the Company’s Named Executive Officers are set forth in the table below:
| | | |
Name and Title of Executive Officer | | 2007 Plan
Cash Bonus
Amount |
Bertrand F. Cambou President and Chief Executive Officer | | $ | 125,000 |
James E. Doran Executive Vice President and Chief Operating Officer | | $ | 80,000 |
Thomas T. Eby Executive Vice President, Consumer, Set Top Box and Industrial Division | | $ | 40,000 |
Ahmed Nawaz Executive Vice President, Wireless Solutions Division | | $ | 40,000 |
Dario Sacomani Executive Vice President and Chief Financial Officer | | $ | 60,000 |
