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GPS » Topics » Section 4. Incentive Compensation

This excerpt taken from the GPS 8-K filed Jan 23, 2007.

Section 4. Incentive Compensation

Beginning with fiscal year 2003, Executive shall be eligible to participate in the Company’s Executive Management Incentive Award Program (“MICAP”). Executive’s eligibility will continue so long as Executive remains as an executive of the Company. MICAP provides cash incentives as a reward for achieving multiple company financial goals. Subject to any shareholder approval required to make the awards eligible for the performance based compensation exception to the deductibility limit under section 162(m) of the Internal Revenue Code, the awards shall be based upon a target of 125% of the Base Compensation and a maximum of 250% of Base Compensation. For fiscal year 2003, the actual Incentive Compensation payment (payable in April 2004) shall be at least $1,875,000.

"Section 4. Incentive Compensation" elsewhere:

Genesco (GCO)
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