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IKAN > SEC Filings for IKAN > Form 8-K on 9-Feb-2009All Recent SEC Filings

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Form 8-K for IKANOS COMMUNICATIONS


9-Feb-2009

Change in Directors or Principal Officers


Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(e) Compensatory Arrangements of Certain Officers

On February 5, 2009, the following actions were taken by the Compensation Committee of the Board of Directors (the "Compensation Committee") and the full Board of Directors (the "Board") of Ikanos Communications, Inc. ("Ikanos" or the "Company"):

Upon the recommendation of the Chief Executive Officer, Michael Gulett, and at the discretion of the Compensation Committee under the terms of the 2008 Executive Bonus Plan, the named executive officers other than Mr. Gulett received bonuses in the amounts set forth below in recognition of the significant accomplishments achieved by those executives in attaining important corporate strategic and operational goals as specified in their personal management objectives for the year.

                        Executive            Bonus Amount
                        Cory Sindelar       $       45,000
                        Shekhar Khandekar   $       45,000

The Compensation Committee also evaluated Mr. Gulett's performance as CEO since he was appointed to that role on July 22, 2008. Based upon his accomplishment of significant corporate strategic and operational goals, and attainment of personal objectives previously agreed upon with the Board, the Compensation Committee recommended that the full Board approve payment of a bonus of $141,120 to Mr. Gulett. After a review of the Compensation Committee's recommendation and detailed consideration of Mr. Gulett's performance, the members of the Board other than Mr. Gulett, in the exercise of their discretion, unanimously approved the payment as recommended by the Compensation Committee.


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