NASDAQ OMX Group (NDAQ)

Target Award Opportunities

The management compensation committee establishes the target annual cash incentive award opportunity for each executive. Under his 2007 employment agreement, Mr. Greifeld’s target annual cash incentive award opportunity for 2008 (and during the agreement’s remaining term) is 200% of base salary. For 2008, the committee set the target annual cash incentive award opportunity for each of the other named executive officers at amounts ranging from 111% to 163% of base salary. The committee determined that the target opportunities met NASDAQ OMX’s goals of pay for performance and retention and considered the target opportunities to be competitive with our peer groups.

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Target Award Opportunities

The management compensation committee establishes the target annual cash incentive award opportunity for each executive. Under his amended and restated employment agreement, Mr. Greifeld’s target annual incentive award opportunity for 2007 (and during the agreement’s remaining term) is 200% of base salary. The committee set the target annual cash incentive award opportunity for each of the other named executive officers at $500,000, which it considered to be competitive with the peer companies previously discussed and met Nasdaq’s goals for pay-for-performance and retention.