|
|
 | | | |
- close
- close
- close
- close
This excerpt taken from the HPQ 8-K filed Nov 23, 2005. Calculation. After the end of each Performance Period, the
Committee shall certify in writing (to the extent required under Code Section 162(m))
the extent to which the targeted goals for the Performance Measures applicable
to each Participant for the Performance Period were achieved or exceeded. The
Bonus for each Participant shall be determined by applying the Bonus Formula to
the level of actual performance that has been certified by the Committee.
Notwithstanding any contrary provision of this Plan, the Committee, in its sole
discretion, may eliminate or reduce the Bonus payable to any Participant below
that which otherwise would be payable under the Bonus Formula. The aggregate Bonus(es) payable to any
Participant during any Fiscal Year shall not exceed U.S.$10 million.
The Committee may appropriately adjust any evaluation of performance under a Performance Measure to exclude any of the following events that occurs during a Performance Period: (A) the effects of currency fluctuations, (B) any or all items that are excluded from the calculation of non-GAAP earnings as reflected in any HP press release and Form 8-K filing relating to an earnings announcement, (C) asset write-downs, (D) litigation or claim judgments or settlements, (E) the effect of changes in tax law, accounting principles or other such laws or provisions affecting reported results, (F) accruals for reorganization and restructuring programs, and (G) any other extraordinary or non-operational items.
(b) |
| |||||||
