This excerpt taken from the ETFC DEF 14A filed Apr 24, 2009.
Non-Equity Incentive Plan Payments
We pay a cash performance bonus on an annual basis, based on achievement of the annual performance metrics discussed above. We believe this element of compensation provides executives an incentive and a reward for achieving performance objectives. With respect to each of the performance metrics for 2008, which are described above, the Compensation Committee determined that:
Individually and collectively, these accomplishments were critical to reinstating customer confidence and maintaining stability through what continues to be an extremely distressed economic environment. In light of these operational and qualitative accomplishments, the Compensation Committee approved payment on this metric at the mid level.
Based on these determinations, the Compensation Committee approved payments to the Named Executive Officers (other than the CEO) that, combined with other components of compensation, established total compensation between the low and the mid level, which would generally be between the 25th and 50th percentile of the Comparator Group. For Mr. Nolop, who began his employment in mid-September, a non-equity compensation award was guaranteed to be paid at the target level, pro-rated for the portion of the year in which he was employed by us. The actual payouts are set forth in the Summary Compensation Table, below.