AFFX » Topics » Cash Performance Bonus Program

This excerpt taken from the AFFX DEF 14A filed May 11, 2009.

Cash Performance Bonus Program

        Our bonus program is designed to reward participants based on attainment of specified levels of corporate financial and strategic goals as well as subjective factors related to the individual's performance.

        Although we use pre-established financial goals as a baseline for determining the aggregate level of funding of our bonus pool for the year, we consider a combination of achievement of financial goals and strategic goals, and other factors specific to the individual. In its determination of any pay-out under the bonus program, the Compensation Committee retains discretion to reduce or refuse to authorize any award under the bonus program despite attainment of any specific objectives, but also to grant bonuses based on individual performance even if corporate performance targets are not met.

        Each named executive officer has an assigned target bonus level, expressed as a percent of base salary for the fiscal year, which for fiscal 2008 ranged from 50% to 75% of base salary. As with our base salary levels, executives with the greatest level of responsibility and accountability have the highest bonus target levels in order to place a significant portion of their total compensation at risk to reflect the impact they have on our overall corporate performance. As further described below, after review of the corporate financial and strategic performance for the year, the Compensation Committee establishes a general funding level for our bonus program, and then reviews individual factors in approving the actual bonus payment for each named executive officer.

        For fiscal 2008, the Compensation Committee measured our performance according to financial and strategic goals that we set for the year. Our financial goals required us to achieve specified revenue and operating profit levels, and our strategic goals included the delivery of growth and profit, increasing customer satisfaction and the promotion of innovation, integrity and excellence.

        While we achieved some of our strategic goals, the Compensation Committee did not award any bonus to our named executive officers because our financial results did not meet our financial goals for 2008.

These excerpts taken from the AFFX 10-K filed Apr 30, 2009.

Cash Performance Bonus Program

 

Our bonus program is designed to reward participants based on attainment of specified levels of corporate financial and strategic goals as well as subjective factors related to the individual’s performance.

 

Although we use pre-established financial goals as a baseline for determining the aggregate level of funding of our bonus pool for the year, we consider a combination of achievement of financial goals and strategic goals, and other factors specific to the individual. In its determination of any pay-out under the bonus program, the Compensation Committee retains discretion to reduce or refuse to authorize any award under the bonus program despite attainment of any specific objectives, but also to grant bonuses based on individual performance even if corporate performance targets are not met.

 

Each named executive officer has an assigned target bonus level, expressed as a percent of base salary for the fiscal year, which for fiscal 2008 ranged from 50% to 75% of base salary. As with our base salary levels, executives with the greatest level of responsibility and accountability have the highest bonus target levels in order to place a significant portion of their total compensation at risk to reflect the impact they have on our overall corporate performance. As further described below, after review of the corporate financial and strategic performance for the year, the Compensation Committee establishes a general funding level for our bonus program, and then reviews individual factors in approving the actual bonus payment for each named executive officer.

 

For fiscal 2008, the Compensation Committee measured our performance according to financial and strategic goals that we set for the year. Our financial goals required us to achieve specified revenue and operating profit levels, and our strategic goals included the delivery of growth and profit, increasing customer satisfaction and the promotion of innovation, integrity and excellence.

 

While we achieved some of our strategic goals, the Compensation Committee did not award any bonus to our named executive officers because our financial results did not meet our financial goals for 2008.

 

Cash Performance Bonus Program



 



Our bonus
program is designed to reward participants based on attainment of specified
levels of corporate financial and strategic goals as well as subjective factors
related to the individual’s performance.



 



Although we
use pre-established financial goals as a baseline for determining the aggregate
level of funding of our bonus pool for the year, we consider a combination of
achievement of financial goals and strategic goals, and other factors specific
to the individual. In its determination of any pay-out under the bonus program,
the Compensation Committee retains discretion to reduce or refuse to authorize
any award under the bonus program despite attainment of any specific
objectives, but also to grant bonuses based on individual performance even if
corporate performance targets are not met.



 



Each named executive
officer has an assigned target bonus level, expressed as a percent of base
salary for the fiscal year, which for fiscal 2008 ranged from 50% to 75% of
base salary. As with our base salary levels, executives with the greatest level
of responsibility and accountability have the highest bonus target levels in
order to place a significant portion of their total compensation at risk to
reflect the impact they have on our overall corporate performance. As further
described below, after review of the corporate financial and strategic
performance for the year, the Compensation Committee establishes a general
funding level for our bonus program, and then reviews individual factors in
approving the actual bonus payment for each named executive officer.



 



For fiscal
2008, the Compensation Committee measured our performance according to
financial and strategic goals that we set for the year. Our financial goals
required us to achieve specified revenue and operating profit levels, and our
strategic goals included the delivery of growth and profit, increasing customer
satisfaction and the promotion of innovation, integrity and excellence.



 



While we
achieved some of our strategic goals, the Compensation Committee did not award
any bonus to our named executive officers because our financial results did not
meet our financial goals for 2008.



 



Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki