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AP » Topics » Compensation Objectives

This excerpt taken from the AP DEF 14A filed Mar 13, 2009.

Compensation Objectives

 

The compensation paid or awarded to our named executive officers for 2008 was designed to meet the following objectives:

 

  •  

Provide compensation that is competitive with compensation for executive officers providing comparable services, taking into account the size of the Corporation, the nature of its business, and the location of its headquarters. We refer to this objective as “competitive compensation.”

 

  •  

Create a compensation structure under which a meaningful portion of total compensation is based on achievement of performance goals relating to the Corporation’s and the individuals’ performance and to enhancement of shareholder value. We refer to this objective as “performance incentives.”

 

  •  

Provide an incentive for long-term continued employment with us. We refer to this objective as “retention incentives.”

 

We considered various components of our 2008 compensation payments and awards (added to payments and awards granted in prior years) to meet these objectives as follows:

 

Type of Compensation

  

Objectives Addressed

Salary

   Competitive Compensation
Performance Incentives

Incentive Bonus Plan Awards

   Competitive Compensation
Performance Incentives

Discretionary Bonus Awards

   Competitive Compensation
Performance Incentives

Options

  

Competitive Compensation
Performance Incentives

Retention Incentives

Change in Control Severance Protection

   Competitive Compensation
Retention Incentives

SERP Benefits

   Competitive Compensation
Retention Incentives

 

8

Table of Contents
This excerpt taken from the AP DEF 14A filed Mar 10, 2008.

Compensation Objectives

 

The compensation paid or awarded to our named executive officers for 2007 was designed to meet the following objectives:

 

  •  

Provide compensation that is competitive with compensation for executive officers providing comparable services, taking into account the size of the Corporation, the nature of its business, and the location of its headquarters. We refer to this objective as “competitive compensation.”

 

  •  

Create a compensation structure under which a meaningful portion of total compensation is based on achievement of performance goals relating to the Corporation’s and the individuals’ performance and to enhancement of shareholder value. We refer to this objective as “performance incentives.”

 

  •  

Provide an incentive for long-term continued employment with us. We refer to this objective as “retention incentives.”

 

We considered various components of our 2007 compensation payments and awards (added to payments and awards granted in prior years) to meet these objectives as follows:

 

Type of Compensation

  

Objectives Addressed

Salary

   Competitive Compensation
Performance Incentives

Incentive Bonus Plan Awards

   Competitive Compensation
Performance Incentives

Discretionary Bonus Awards

   Competitive Compensation
Performance Incentives

Options

   Competitive Compensation
Performance Incentives

Change in Control Severance Protection

   Competitive Compensation
Retention Incentives

SERP Benefits

   Competitive Compensation
Retention Incentives

 

8

Table of Contents
This excerpt taken from the AP DEF 14A filed Mar 8, 2007.

Compensation Objectives

 

The compensation paid or awarded to our named executive officers for 2006 was designed to meet the following objectives:

 

  •   Provide compensation that is competitive with compensation for executive officers providing comparable services, taking into account the size of the Corporation, the nature of its business, and the location of its headquarters. We refer to this objective as “competitive compensation.”

 

  •   Create a compensation structure under which a meaningful portion of total compensation is based on achievement of performance goals relating to the Corporation’s and the individuals’ performance and to enhancement of shareholder value. We refer to this objective as “performance incentives.”

 

  •   Provide an incentive for long-term continued employment with us. We refer to this objective as “retention incentives.”

 

We considered various components of our 2006 compensation payments and awards (added to payments and awards granted in prior years) to meet these objectives as follows:

 

Type of Compensation

  

Objectives Addressed

Salary

   Competitive Compensation
Performance Incentives

Incentive Bonus Plan Awards

   Competitive Compensation
Performance Incentives

Discretionary Bonus Awards

   Competitive Compensation
Performance Incentives

Options

   Competitive Compensation
Performance Incentives

Change in Control Severance Protection

   Competitive Compensation
Retention Incentives

SERP Benefits

   Competitive Compensation
Retention Incentives

 

10

EXCERPTS ON THIS PAGE:

DEF 14A
Mar 13, 2009
DEF 14A
Mar 10, 2008
DEF 14A
Mar 8, 2007

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