NICE » Topics » Compensation

This excerpt taken from the NICE 20-F filed Apr 6, 2009.

Compensation

        The aggregate compensation paid to or accrued on behalf of all our directors and executive officers as a group of 20 persons during 2008 consisted of approximately $5.7 million in salary, fees, bonus, commissions and directors’ fees and approximately $0.1 million in amounts set aside or accrued to provide pension, retirement or similar benefits, but excluding amounts we expended for automobiles made available to our officers, expenses (including business travel, professional and business association dues and expenses) reimbursed to our officers and other fringe benefits commonly reimbursed or paid by companies in Israel.

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        During 2008, our officers and directors received, in the aggregate, options and restricted shares with respect to 629,500 ordinary shares under our equity based compensation plans. These options and restricted shares have an average price of $28.39 and the options will expire six years after the date the options were granted.

        Pursuant to the requirements of the Israeli Companies Law, 5759–1999, or the Companies Law, remuneration of our directors generally requires shareholder approval. Compensation and reimbursement for outside directors (as described below) is statutorily determined pursuant to the Companies Law.  Effective as of July 29, 2008, we pay each of our directors, including outside directors, an annual fee of NIS 90,000 (equivalent to approximately $23,684) and a meeting attendance fee of NIS 3,250 (equivalent to approximately $855), including for meetings of committees of the board of directors. Our directors are also entitled to an annual grant of options to purchase 5,000 of our ordinary shares and our Chairman of the Board is entitled to an annual grant of options to purchase 15,000 ordinary shares on the date of our annual general meeting during each calendar year until and including the 2010 annual general meeting. These options fully vest following the lapse of twelve (12) months from the applicable date of grant and are granted under the Nice-Systems Ltd. 2003 Stock Option Plan. In addition, effective as of July 29, 2008, our Chairman of the Board receives a special annual fee in the amount of NIS 180,000 (equivalent to approximately $47,368).

This excerpt taken from the NICE 20-F filed Apr 14, 2008.

Compensation

        The aggregate compensation paid to or accrued on behalf of all our directors and executive officers as a group of 21 persons during 2007 consisted of approximately $5.1 million in salary, fees, bonus, commissions and directors’ fees and approximately $0.1 million in amounts set aside or accrued to provide pension, retirement or similar benefits, but excluding amounts we expended for automobiles made available to our officers, expenses (including business travel, professional and business association dues and expenses) reimbursed to our officers and other fringe benefits commonly reimbursed or paid by companies in Israel.

        During 2007, our officers and directors received, in the aggregate, options and restricted shares with respect to 675,837 ordinary shares under our equity based compensation plans. These options and restricted shares have an average price of $28.20 and the options will expire six years after the date the options were granted.

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        Compensation and reimbursement for outside directors (as described below) is statutorily determined pursuant to the Israeli Companies Law, 5759–1999, or the Companies Law.  In 2007 we paid our outside directors annual fees in the aggregate amount of NIS 93,132 and meeting attendance fees in the aggregate amount of NIS 73,970, including meetings of committees of the board of directors. We pay each of our directors who is not an outside director an annual fee of $15,000 and a meeting attendance fee of $600, including for meetings of committees of the board of directors as well as an annual grant of options to purchase 5,000 of our ordinary shares. We pay each member of our audit committee, excluding outside directors, an additional annual fee of $2,500.  In addition, during 2007, our Chairman of the Board received a special annual fee in the amount of $25,000.

        Pursuant to the requirements of the Israeli Companies Law, remuneration of our directors generally requires shareholder approval. At our 2007 annual general meeting of shareholders, our shareholders approved, that as of January 1, 2008, our outside directors are entitled to compensation equal to that granted to the other members of the board of directors as detailed above (excluding those that perform special functions, such as the Chairman of the board of directors). Also, at our 2007 annual general meeting of shareholders, our shareholders approved an increase of the special annual fee paid to the Chairman of the Board by $11,000 so that commencing January 1, 2008, our Chairman of the Board receives a special annual fee in the amount of $36,000.

This excerpt taken from the NICE 20-F filed Jun 13, 2007.

Compensation

        The aggregate compensation paid to or accrued on behalf of all our directors and executive officers as a group 21 persons during 2006 consisted of approximately $ 4.7 million in salary, fees, bonus, commissions and directors’ fees and approximately $0.1 million in amounts set aside or accrued to provide pension, retirement or similar benefits, but excluding amounts we expended for automobiles made available to our officers, expenses (including business travel, professional and business association dues and expenses) reimbursed to our officers and other fringe benefits commonly reimbursed or paid by companies in Israel.

        At our 2006 annual general meeting of shareholders, our shareholders approved the annual grant of options to purchase 5,000 ordinary shares to each of our non-executive directors (excluding statutory Outside Directors) and the annual grant of options to purchase 15,000 ordinary shares to our Chairman of the Board, to be granted on the date of each annual general meeting from 2006 through 2010. The exercise price per share of the options will be equal to the closing price per share of ordinary shares on the NASDAQ Stock Market on the trading day immediately preceding the applicable date of grant. These options will fully vest following the lapse of twelve (12) months from the applicable date of grant and will expire on the sixth anniversary of the applicable date of grant. They will be subject to the terms of our 2003 Stock Option Plan.

        During 2006, our officers and directors received, in the aggregate, options to purchase up to 580,000 ordinary shares under our 2003 Stock Option Plan. These options have an average exercise price of $25.89 and will expire six years after the date the options were granted.

        Compensation and reimbursement for Outside Directors (as described below) is statutorily determined pursuant to the Israeli Companies Law, 5759–1999, or the Companies Law.  The statutory rates for Outside Directors are approximately NIS 47,100 per annum and approximately NIS 1,800 per meeting. We pay each of our directors who is not an Outside Director an annual fee of $15,000 and a meeting attendance fee of $600, including for meetings of committees of the board of directors. We pay each member of our audit committee, excluding Outside Directors, an additional annual fee of $2,500.  In addition, commencing January 1, 2007, our Chairman of the Board receives a special annual fee in the amount of $25,000.  

This excerpt taken from the NICE 20-F filed May 17, 2006.

Compensation

          The aggregate compensation paid to or accrued on behalf of all our directors and executive officers as a group (22 persons) during 2005 consisted of approximately $4.9 million in salary, fees, bonus, commissions and directors’ fees and approximately $0.1 million in amounts set aside or accrued to provide pension, retirement or similar benefits, but excluding amounts we expended for automobiles made available to our officers, expenses (including business travel, professional and business association dues and expenses) reimbursed to our officers and other fringe benefits commonly reimbursed or paid by companies in Israel.

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          During 2005, our officers and directors received, in the aggregate, options to purchase up to 466,000 ordinary shares under our 2003 Stock Option Plan. These options have an average exercise price of $37.35 and will expire six years after the date the options were granted.

          Compensation and reimbursement for Outside Directors (as described below) is statutorily determined pursuant to the Israeli Companies Law, 5759–1999, or the Companies Law. The statutory rates for Outside Directors are approximately NIS 46,000 per annum and approximately NIS 1,800 per meeting. We pay each of our directors who is not an Outside Director an annual fee of $15,000 and a meeting attendance fee of $600, including for meetings of committees of the board of directors. We pay each member of our audit committee, excluding Outside Directors, an additional annual fee of $2,500. The chairman of the Board receives 150% of the annual amount and the vice chairman of the Board receives 137.5% of the annual amount. The chairman was also entitled to an additional monthly fee of approximately $4,000 through September 2005.

This excerpt taken from the NICE 20-F filed Jun 29, 2005.

Compensation

 

The aggregate compensation paid to or accrued on behalf of all our directors and executive officers as a group (24 persons) during 2004 consisted of approximately $4.1 million in salary, fees, bonus, commissions and directors’ fees and approximately $0.1 million in amounts set aside or accrued for to provide pension, retirement or similar benefits, but excluding amounts we expended for automobiles made available to our officers, expenses (including business travel, professional and business association dues and expenses) reimbursed to our officers and other fringe benefits commonly reimbursed or paid by companies in Israel.

 

During 2004, our officers and directors received, in the aggregate, options to purchase up to 208,000 ordinary shares under our 2003 Stock Option Plan.  These options have an average exercise price of $23.31 and will expire six years after the date the options were granted.

 

Compensation and reimbursement for Outside Directors (as described below) is statutorily determined pursuant to the Israeli Companies Law, 5759–1999, or the Companies Law.  The statutory rates for Outside Directors is approximately NIS 46,000 per annum and approximately NIS 1,800 per meeting.  Compensation and reimbursement of all other directors who do not serve as officers are the same as the statutory rates paid to Outside Directors except for the chairman of the Board who receives 150% of the annual amount and an additional monthly fee of approximately $4,000 and the vice chairman of the Board who receives 137.5% of the annual amount. 

 

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