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This excerpt taken from the XIDE DEF 14A filed Jul 27, 2006. Executive
and Management Incentive Compensation
Annual
Incentives
In May 2002, the Board of Directors adopted an annual cash
incentive plan, the Corporate Incentive Plan (“CIP”),
which applies to the Chief Executive Officer, his direct reports
and other senior managers and certain other managers and
professionals located throughout the world. The CIP’s
objective is to provide a competitive financial opportunity that
will motivate key contributors to achieve or exceed our
company’s business plan. The CIP is a goal-driven plan
based on annual financial performance that includes EBITDA,
improvements in working capital and strategic and personal
goals. The incentive compensation of the Chief Executive Officer
under the CIP is based on global improvements in EBITDA, working
capital, strategic goals and personal goals. Target incentive
levels are established based on market competitive data and the
functional responsibilities for the other participants in the
CIP. The Board of Directors may approve discretionary payments
under the CIP. No payments were made to the Chief Executive
Officer or his direct reports for fiscal year 2006.
Long-Term
Incentives
On August 30, 2005, the shareholders approved the 2004 Plan
to provide incentives and awards to employees and directors of
our company, as well as certain of our company’s
consultants.
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