AAP » Topics » Compensation Philosophy

This excerpt taken from the AAP DEF 14A filed Apr 13, 2005.

Compensation Philosophy

        Our general compensation philosophy is to ensure that:

  compensation for executive officers is tied to annual and long-term company performance goals that are structured to align the interests of executive officers with those of Advance’s stockholders;
  a significant portion of total compensation is equity-based, thereby further aligning the interests of executive officers and Advance’s stockholders; and
  executive compensation is comparable with compensation levels at major competitors so that Advance can attract, retain, and motivate superior management talent who are essential to Advance’s long-term success.

        There are two primary types of compensation provided to Advance’s executive officers:

  annual compensation, which includes (1) base salary intended to provide a stable annual salary at a level consistent with individual contributions, and (2) annual incentive bonuses intended to link such bonuses to Advance’s performance; and
  long-term incentive compensation, which includes stock options or other equity based compensation intended to encourage the maximization of stockholder value.

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