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This excerpt taken from the XIDE DEF 14A filed Jul 24, 2009. Short-Term
Cash Incentive Compensation
The Committee believes that short-term cash incentive
compensation that is based on performance, through the
achievement of division and corporate goals, is an important
component of overall executive cash compensation and aligns
named executive officers’ goals with those of the
shareholders. Target short-term cash incentive compensation is
established annually as part of the review of total
compensation. For the named executive officers, the Committee
generally establishes annual short-term cash incentive
compensation at 50% of base salary. Mr. Ulsh’s
employment agreement provides target short-term cash incentive
compensation at 125% of base salary and
Mr. O’Leary’s target is 65% of base salary. The
Committee believes that the significantly higher targets for the
CEO and COO, when compared to the Company’s other named
executive officers, are appropriate in light of their respective
level of responsibility, and to ensure that their annual total
cash compensation is competitive based on market survey data.
In addition, the Committee may, from time to time, approve lump
sum payments to new employees upon their retention or to
existing employees, including the named executive officers, upon
assumption of additional responsibilities. The Committee did not
approve any of these lump sum payments for named executive
officers in fiscal 2009.
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