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This excerpt taken from the BONT DEF 14A filed May 4, 2009. Benchmarking
The HRCC compares salary, annual incentive compensation and
long-term equity incentive values against all retail companies
in Hewitt Associates’ Total Compensation Database (the
“Compensation Peer Group”). In 2008, there were 45
retail companies included in the database with revenues ranging
from $728 million to $77 billion in sales. Because of
the large variance in size among the companies comprising the
Compensation Peer Group, regression analysis was used to adjust
the compensation data for differences in company sales. This
adjusted value is used as the basis of comparison of
compensation between the Company and the companies in the
Compensation Peer Group.
The HRCC has determined that it is appropriate to deliver total
compensation at approximately the 50th percentile of the
Compensation Peer Group for each element of compensation.
However, as the Company competes with many larger companies for
the best executive-level talent, the HRCC may decide it is in
the best interests of the Company and its shareholders to
provide compensation for selected positions that exceeds the
targeted compensation levels depending on the circumstances,
including the Company’s needs, market factors, the
executive’s experience, the contribution of the executive
to the Company, and in the HRCC’s view, the positive impact
the executive may have on the Company as a whole.
In addition, in 2008, the HRCC reviewed proxy compensation data
from specific retailers in its benchmarking effort with respect
to compensation of the Chief Executive Officer. These retailers
included Kohl’s Corporation; J.C. Penney Company, Inc.;
Macy’s, Inc.; Dillard’s Inc.; Belk Inc. and Nordstrom,
Inc. These companies were chosen because they are retailers with
competitive assortments and a similar customer base as the
Company. The HRCC recognizes that most of these retailers are
larger in size than the Company, but the HRCC also believes that
the Company competes directly with them for executive talent.
The HRCC reviewed the compensation practices of, and the
compensation packages provided by, these retailers. The data
also provided context for ongoing deliberations of the HRCC.
This excerpt taken from the BONT DEF 14A filed May 2, 2008. Benchmarking
The HRCC compares salary, annual incentive compensation and
long-term equity incentive values against all retail companies
in Hewitt Associates’ Total Compensation Database (the
“Compensation Peer Group”). In 2007, there were 55
retail companies included in the database with median revenues
of $2.9 billion and ranging in size from $200 million
to $313 billion in sales. Because of the large variance in
size among the companies comprising the Compensation Peer Group,
regression analysis was used to adjust the compensation data for
differences in company sales. This adjusted value is used as the
basis of comparison of compensation between the Company and the
companies in the Compensation Peer Group.
The HRCC has determined that it is appropriate to deliver total
compensation at approximately the 50th percentile of the
Compensation Peer Group for each element of compensation.
However, as the Company competes with many larger companies for
the best executive-level talent, the HRCC may decide it is in
the best interests of the Company and its shareholders to
provide compensation for selected positions that exceeds the
targeted compensation levels depending on the circumstances,
including the Company’s needs, market factors, the
executive’s experience, the contribution of the executive
to the Company, and in the HRCC’s view, the positive impact
the executive may have on the Company as a whole.
In addition, in 2007, the HRCC reviewed proxy compensation data
from specific retailers in its benchmarking effort with respect
to compensation of the Chief Executive Officer. These retailers
included Kohl’s Corporation; J.C. Penney Company, Inc.;
Federated Department Stores, Inc.; The Talbots, Inc.;
Dillard’s Inc.; and The TJX Companies, Inc. These companies
were chosen because they are retailers with competitive
assortments and a similar customer base as the Company. The HRCC
recognizes that most of these retailers are larger in size than
the Company, but the HRCC also believes that the Company
competes directly with them for executive talent. The HRCC
reviewed the compensation practices of, and the compensation
packages provided by, these retailers. The data also provided
context for ongoing deliberations of the HRCC.
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