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EXHIBIT 10.27
RFMD FY 2000 EXECUTIVE BONUS PLAN
SCHEDULE OF PAYOUT PERCENTAGES
REVENUES - WEIGHTING - 15%
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REVENUE GOAL BMP - $260 MILLION
ANALYSTS REPORTED - $258 MILLION (1)
REACH $300 MILLION
FY 00 REVENUE ACHIEVED ($M) PAYOUT
- --------------------------- ------
For Amounts From 258 and Including 270 Proportional Between
80% and 100%
For Amounts From 270 and Including 300 Proportional Between
100% and 125%
GROSS MARGIN - WEIGHTING - 20%
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GROSS MARGIN GOAL BMP - 43.0%
ANALYSTS REPORTS - 42.3% (1)
FY 00 GROSS MARGIN (% OF SALES) PAYOUT
- ------------------------------- ------
For Amounts From 42.0 and Including 43.0 Proportional Between
80% and 100%
For Amounts From 43.0 and Including 45.0 Proportional Between
100% and 125%
EPS - WEIGHTING - 25%
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GOAL BMP: Q-1 .23 Q-2 .25 Q-3 .28 Q-4 .31 FY 1.07
ANALYSTS ESTIMATES: FY .96 (1)
REACH: FY 1.16
FY 2000 Earnings Per Share Achieved ($.00) PAYOUT
- ------------------------------------------ ------
For Amounts From .99 and Including 1.07 Proportional Between
80% and 100%
For Amounts From 1.07 and Including 1.16 Proportional Between
100% and 125%
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NET BOOKINGS - WEIGHTING - 15%
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GOAL: $286 MILLION
Bookings PAYOUT
- -------- ------
For Amounts From 275 and Including 286 Proportional Between
80% and 100%
For Amounts From 286 and Including 325 Proportional Between
100% and 125%
PRODUCT DIVERSIFICATION - WEIGHTING - 10%
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Silicon Parts Sales PAYOUT
- ------------------- ------
Less Than $25 Million 0%
$25-30 Million Proportional Between
80% and 100%
$30-35 Million Proportional Between
100% and 125%
CUSTOMER DIVERSIFICATION - WEIGHTING - 15%
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Goal is to have five customers,
sales to each are $13.5 million or more PAYOUT
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Three customers greater than or equal to
$13.5 million or more sales 80%
Four customers 100%
Five customers 125%
Note 1: Analysts reports were in early-mid April, 1999
Some have updated/raised performance estimates since then
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RF MICRO DEVICES
FY 2000 EXECUTIVE BONUS COMPENSATION PLAN
1. Compensation Committee can adjust upward as appropriate for partial
achievement of goals, exemplary effort, outside mitigating
circumstances, or desired and appropriate changes in goals.
2. Cash bonus (if any) accrued in FY-00, payable within 10 days after
receipt by Compensation Committee of unaudited fiscal year-end results.
Subsequent audit adjustments, if any, to be reflected in FY01 bonus
plan.
3. Options awarded (if any) within 10 days after receipt by Compensation
Committee of unaudited fiscal year-end results and to be effective
first day of FY-01 at closing market price that day. Same subsequent
adjustment provisions apply as in Number 2 above.
4. Amounts earned from payout percentage(s) greater than 100% achievement
for any one objective can be accumulated, thus providing each
individual the ability to earn more than the "Target Cash Bonus" and
"Target Option Bonus" amounts. Maximum amount of cash bonus for an
individual cannot exceed 100% of base salary.
5. Each executive's bonus compensation determined by same objectives and
weighting factors.