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GPS » Topics » Individual Objectives Component

This excerpt taken from the GPS DEF 14A filed Apr 7, 2009.

Individual Objectives Component

Executives other than the CEO were also eligible to receive bonuses based on subjective individual and organizational objectives established at the beginning of the year. The extent to which these objectives were accomplished was assessed qualitatively by the CEO at the end of the fiscal year. Any payout amounts were then recommended to the Committee for consideration and approval. The principal objectives consisted of expense reductions and initiatives related to productivity improvement, inventory management, talent management and other operational improvement measures. These objectives varied by individual and were not assigned individual weights. Achievement of these objectives, individually, was not material to the executive’s overall compensation.

 

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