www.sec.gov/Archives/edgar/data/859475/0000950134-08-01 -
[Cached Version]
Published on: 10/17/2008
Last Visited: 10/18/2008
Jung-Herng Chang(23)
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Dr. Chang resigned his employment effective February 26, 2008.
(24)
Consists of $9,429 for car allowance and $30,365 for premiums paid on term life insurance.
Also includes $133,333.32 consisting of payments made pursuant to a Resignation and Consulting Agreement and General Release of Claims (the "Consulting Agreement") between Trident and Dr. Chang.
Pursuant to the terms of the Consulting Agreement, during the period from the Resignation Date through February 28, 2009 (the "Consulting Period"), Trident will pay Dr. Chang a consulting fee of $25,000 per month, and will continue his group health insurance coverage under COBRA.
In addition, Trident shall pay Dr. Chang an additional sum of $8,333.33 per month for each month during the Consulting Period that Dr. Chang does not provide any work, services, or assistance to any person or entity that is in any way involved in the manufacture, sale, distribution, or development of any products, technologies, or services that are (a) substantially similar to any products, technologies, or services that are manufactured, sold, distributed or under development by us, or (b) reasonably understood in the marketplace to compete with any products, technologies, or services that are manufactured, sold, distributed or under development by us.
(25)
Consists of $14,440 for car allowance, $6,214 in supplemental medical healthcare reimbursement, $2,850 for term life insurance premiums, and $2,750 of matching contributions to the Trident Microsystems, Inc. 401(k) Plan.
Also includes $118,750 paid as a bonus to reimburse Dr. Chang for the increase in the option exercise price for options as to which we modified the measurement dates to amend such options either (i) to retroactively increase the exercise price on options that vested in calendar 2005 or calendar 2006, and/or (ii) as to options that were not exercised through December 31, 2006 and options that would vest in 2007 or beyond, to retain the same exercise price but schedule their exercises under a formal plan specifying the year of exercise.
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Jung-Herng Chang(8)
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Dr. Chang was paid a pro-rated portion of his bonus pursuant to the Consulting Agreement described above in footnote 26 to the Summary Compensation Table.
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Dr. Chang's employment terminated with us effective February 26, 2008.
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Dr. Jung-Herng Chang
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Jung-Herng Chang
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Dr. Jung-Herng Chang
Following his termination of employment with us, we entered into a Resignation and Consulting Agreement and General Release of Claims (the "Consulting Agreement") with Dr. Jung-Herng Chang, our former president, and have paid him, through June 30, 2008 the sum of $133,333.32 under the Consulting Agreement.
Pursuant to the terms of the Consulting Agreement, during the period from the date of his resignation through February 28, 2009 (the "Consulting Period"), we will pay Dr. Chang a consulting fee of $25,000 per month, and will continue his group health insurance coverage under COBRA.
In addition, we will pay Dr. Chang an additional sum of $8,333.33 per month for each month during the Consulting Period that Dr. Chang does not provide any work, services, or assistance to any person or entity that is in any way involved in the manufacture, sale, distribution, or development of any products, technologies, or services that are (a) substantially similar to any products, technologies, or services that are manufactured, sold, distributed or under development by us, or (b) reasonably understood in the marketplace to compete with any products, technologies, or services that are manufactured, sold, distributed or under development by us.
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