This excerpt taken from the NDAQ DEF 14A filed Apr 3, 2009.
2009The Year Ahead
While 2008 was an extremely successful year for NASDAQ OMX, the global economic environment will present challenges for us in 2009. With this in mind, the management compensation committee did not increase base salaries for the named executive officers for 2009, as had been the practice in recent years. In addition, the committee set the performance goals for annual cash incentive awards under our Executive Corporate Incentive Plan (ECIP) in alignment with the 2009 budget drivers, as had been done in prior years. However, if the 2009 budget metrics are achieved, ECIP payments will be made at only 80% of target amounts rather than 100% as was the case in 2008. To earn an ECIP payment above 80% of the target amount, NASDAQ OMX executives will be required to exceed 2009 budgeted performance. As the year unfolds, the committee will continue to monitor the economy and our financial performance in connection with the 2009 compensation program.