These excerpts taken from the TXN 10-K filed Feb 24, 2009.
Subject to the Committees discretion to reduce such awards, each covered employee shall be entitled to an award for each performance year equal to 0.5% of the Companys consolidated income from continuing operations before (i) provision for income taxes, (ii) awards under the Plan, (iii) any pretax gain or loss exceeding $25 million recognized for the year related to divestiture of a business and (iv) any write-off of in process research and development expenses exceeding $25 million associated with an acquisition, as determined and reported to the Committee by TIs independent auditors (Consolidated Income).
An individual who becomes an executive officer after March 30 and on or before October 1 of a performance year shall be entitled to a prorated award for that performance year which shall be 0.5% of the Companys Consolidated Income, as defined above, for such performance year multiplied by a fraction, the numerator of which is the number of complete calendar quarters of such year following the date on which the individual becomes an executive officer and the denominator of which is 4. Such prorated award shall be subject to the Committees discretion to reduce awards.
Subject to the Committees discretion to
An individual who becomes an executive