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XLNX > SEC Filings for XLNX > Form 8-K on 15-Apr-2009All Recent SEC Filings

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Form 8-K for XILINX INC


15-Apr-2009

Costs Associated with Exit or Disposal Activities, Change in Directors or Principal Of


Item 2.05 Costs Associated with Exit or Disposal Activities.

On April 15, 2009, Xilinx, Inc. (the "Company") announced restructuring plans for fiscal 2010. A press release announcing the restructuring is filed as Exhibit 99.1 and incorporated herein by reference.



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

On April 15, 2009, the terms of employment of all executive officers of the Company were amended to reduce their annual base salaries by 10% to 20%, effective May 1, 2009.

The Company and named executive officer Moshe N. Gavrielov, its President and Chief Executive Officer, entered into an amendment of the terms of his employment pursuant to which Mr. Gavrielov's annual base salary of $700,000 would be reduced by 20% to $560,000, effective May 1, 2009.

The Company and named executive officer Jon A. Olson, its Senior Vice President and Chief Financial Officer, entered into an amendment of the terms of his employment pursuant to which Mr. Olson's annual base salary of $460,000 would be reduced by 15% to $391,000, effective May 1, 2009.

The foregoing salary adjustments will have no effect on the bonus targets for the Company's executive officers.



Item 8.01 Other Events.

On April 9, 2009, the Board of Directors of the Company approved a 20% reduction in their total annual cash compensation.



Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.                Description
99.1            Press Release dated April 15, 2009


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