www.sec.gov/Archives/edgar/data/895665/0000950124-07-00 -
[Cached Version]
Published on: 9/26/2007
Last Visited: 9/27/2007
Terry A. White
...
Terry A. White was appointed Vice President Worldwide Sales in April 2005.From August 2003 to March 2005, Mr. White was Vice President of Worldwide Sales for Mahi Networks, a telecom company.From March 2002 to June 2003, Mr. White was Vice President of Global Sales at Turnstone Systems.Prior to that position and from February 1992 to December 2001, he held various positions at ADC Telecommunications.His most recent position at ADC was Senior Vice President of BIA Sales.Mr. White has been employed in sales management for more than 20 years.Mr. White holds a Bachelor of Arts degree from Kennesaw College.
...
Under his employment agreement, Mr. White is entitled to receive a severance payment equal to six month's salary and continued benefits for six months in the event of his involuntary termination, and all of Mr. White's equity grants then outstanding will vest immediately.Based on compensation paid in 2006, then unvested options, and using medical insurance premiums and the price of our Common Stock as of December 31, 2006, we estimate that the approximate value of these severance payments on December 31, 2006 would have been $495,000 for Mr. Quiram and $183,000 for Mr. White.
...
In addition, if Mr. White's employment is terminated involuntarily following a change in control, then he is entitled to a lump sum payment equal to one year of his base salary.Based on compensation paid in 2006, then unvested equity grants, and using medical insurance premiums and the price of our Common Stock as of December 31, 2006, we estimate that the approximate value of these benefits on December 31, 2006 would have been $813,000 for Mr. Quiram, and $35,000 for Mr. White.
...
If Mr. White does not resign for six months after the change in control, he would have received an estimated additional $35,000 in benefits under such
21
Table of Contents
assumptions.If Mr. White is terminated involuntarily following a change in control, he would have received an estimated additional $220,000 in benefits under such assumptions.