Exhibit 10.66
Reduction in Named Executive Officer Salaries
and Forgoing of Bonuses
and Forgoing of Bonuses
Reduction in Base Salaries
Effective February 9, 2009, the annual base salaries for each of the named executive officers
(NEOs) of Applied Materials, Inc. (Applied) have been reduced by ten percent (10%) in order to
reduce costs due to deteriorating global economic and industry conditions. This ten percent (10%)
reduction is in addition to a ten percent (10%) reduction of the NEOs annual base salaries that
was previously implemented to reduce costs. This brings the total reduction to twenty percent (20%)
below the annual base salary in effect for each NEO at this time last year. The adjusted annual
base salaries for the NEOs as of February 9, 2009, are as follows:
| Named Executive Officer | Reduced Base Salary | |||
Michael R. Splinter, |
$ | 784,000 | ||
President and Chief Executive Officer |
||||
Franz Janker, |
$ | 475,200 | ||
Executive Vice President, Sales and Marketing |
||||
Mark R. Pinto, |
$ | 440,000 | ||
Senior Vice President, Chief Technology Officer and
General Manager Energy and Environmental Solutions |
||||
Thomas St. Dennis, |
$ | 411,280 | ||
Senior Vice President, General Manager Silicon Systems
Group |
||||
George S. Davis, |
$ | 410,400 | ||
Senior Vice President, Chief Financial Officer |
||||
Manfred Kerschbaum, |
$ | 403,520 | ||
Senior Vice President, General Manager Applied Global
Services |
||||
NEOs to Forgo FY2009 Bonus
In support of Applieds cost-reduction activities, each of the NEOs will forgo his annual
incentive bonus for fiscal 2009, even if the performance goals related to the bonus are fully
achieved and a bonus would otherwise be payable, unless business conditions and financial results
improve significantly.