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Monday, May 12, 2003 7:57:20 PM
* The prior ISO plan ended in Dec. 1999;
* The 2000 ISO Plan replaced the prior plan;
* At the end of 1999, there were under 50M shares outstanding, much less than the 56M we have today. Per 1999 10K there were "48,474 shares issued and outstanding";
* The current ISO plan is excessive and rich by any measure;
* The RATE of ISO grants is excessive by any measure.
* Average pay i.e. salary and bonus, not counting ANY ISO comensation, has increased over 50% from 1999 to current ($400K now, per proxy) for the top executives, which is quite generous;
* No executive has left IDCC due to lack of compensation.
These are the facts. Read them and weep.
We don't need another significant long term pay raise for employees at this time. Therefore, I will vote "NO" on proposition #2.
Corp_Buyer
Recent IDCC News
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