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NDAQ » Topics » Additional Incentive and Discretionary Awards

This excerpt taken from the NDAQ DEF 14A filed Apr 3, 2009.

Additional Incentive and Discretionary Awards

The management compensation committee has the authority to grant discretionary awards outside of the ECIP to reward executives, including named executive officers, for completion of specific projects or exceptional performance. In October 2008, the committee approved an incentive award pool (the 2008 Additional Award Program) of up to $2.5 million for a small group of employees. The purpose of the 2008 Additional Award Program was to incent the participants to achieve approximately $100 million in annualized runrate synergies relating to the combination with OMX by the end of 2008, which was 18 months earlier than the initial target date for achievement of these synergies. Due to their efforts in the company’s achievement of this goal and for exceeding the specified targets, Mr. Warren received an additional incentive award of $183,500, and Ms. Ewing received an additional incentive award of $160,000. Ms. Ewing received an additional discretionary award of $48,750, which was intended to reward her for contributions to the Market Technology group that, in the committee’s view, were not adequately reflected by her ECIP payout.

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