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This excerpt taken from the HPQ DEF 14A filed Jan 27, 2010. Performance Criteria.
The Administrator shall establish the performance criteria and level of
achievement versus these criteria which shall determine the target and the
minimum and maximum amount payable under a Cash Award, which criteria may be
based on financial performance and/or personal performance evaluations. The
Administrator may specify the percentage of the target Cash Award that is
intended to satisfy the requirements for “performance-based compensation” under
Section 162(m) of the Code. Notwithstanding anything to the contrary
herein, the performance criteria for any portion of a Cash Award that is
intended to satisfy the requirements for “performance-based compensation” under
Section 162(m) of the Code shall be a measure established by the
Administrator based on one or more Qualifying Performance Criteria selected by
the Administrator and specified in writing not later than ninety (90) days
after the commencement of the period of service to which the performance goals
relates, provided that the outcome is substantially uncertain at that time.
(c) |
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