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On November 12, 2010, upon the recommendation of the Compensation and Options Committee (the “Compensation Committee”) of the Board of Directors (the “Board”) of Amtech Systems, Inc. (the “Company”), the Board approved restricted stock and option grants for its executives. Jong S. Whang, the Company’s Chairman of the Board and Chief Executive Officer, received a grant of an option to purchase 26,667 shares of the Company’s common stock and a restricted stock grant of 13,333 shares of the Company’s common stock. Fokko Pentinga, the Company’s President, received a grant of an option to purchase 23,333 shares of the Company’s common stock and a restricted stock grant of 11,667 shares of the Company’s common stock. Bradley C. Anderson, the Company’s Vice President—Finance and Chief Financial Officer, received a grant of an option to purchase 11,667 shares of the Company’s common stock and a restricted stock grant of 5,833 shares of the Company’s common stock. Robert T. Hass, the Company’s Chief Accounting Officer, received a grant of an option to purchase 1,333 shares of the Company’s common stock and a restricted stock grant of 667 shares of the Company’s common stock. Each of the restricted stock and option grants will vest in four (4) equal annual installments beginning on November 12, 2011. All options granted have an exercise price of $17.12 (the closing price of the Company’s common stock on November 11, 2010).
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On November 12, 2010, the Compensation Committee also approved annual incentive bonuses for fiscal year 2010 in accordance with the Company’s executive compensation strategy. The Board approved a bonus for Jong S. Whang for fiscal year 2010 in the amount of $420,000. The Board approved a bonus for Fokko Pentinga for fiscal year 2010 in the amount of $382,091. The Board approved a bonus for Bradley C. Anderson for fiscal year 2010 in the amount of $240,000. The Board approved a bonus for Robert T. Hass for fiscal year 2010 in the amount of $74,000.
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