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IN BRIEF / TECHNOLOGY

Raises on Hold for Conexant Executives

January 12, 2002|Bloomberg News

Conexant Systems Inc. said Chief Executive Dwight Decker and other senior executives will not receive a salary increase unless the company posts two consecutive profitable quarters.

The communications-chip maker has reported losses since the quarter ended September 2000. Decker's base salary declined to $657,000 from $730,000 in the fiscal year ended Sept. 30 after a 10% decrease imposed on senior managers in March, the Newport Beach-based company said in a filing with the Securities and Exchange Commission.

For the fiscal year, Decker earned a $686,827 salary, up 2.6% from the previous year's $669,231, because the reduction took effect March 30. He received $26,118 in "other annual compensation" and $29,822 in contributions to savings plans, the company said.

Decker also received 500,000 stock options with an exercise price of $8.94 and 100,000 exercisable at $21.88. Conexant shares rose 6 cents to $14 on Nasdaq.

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