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DTV » Topics » PERFORMANCE MEASURES

These excerpts taken from the DTV 10-K filed Mar 1, 2005.

PERFORMANCE MEASURES

 

The Committee shall determine the Performance Factor for each Performance Measure on the basis of the following table, which shall be determined based solely on the performance of DIRECTV Holdings LLC and its Subsidiaries for owned and operated subscribers of DIRECTV, Inc.:

 

Performance

Measure

   

Level of

Performance

   

Performance

Factor

Net Annual Subscriber Growth

   

1.5MM or more

1.0MM

0.5MM

0 or less

    1.5
1.0
0.5
0.0

Average Annual Churn

   

13% or less

17%

21%

25% or more

    1.2
1.0
0.8
0.6

Average Annual ARPU Growth

   

6% or more

4%

2%

0% or less

    1.2
1.0
0.8
0.6

Average Annual SAC

   

$450 or less

$650

$850

$1,050 or more

    1.2
1.0
0.8
0.6

Average Annual Margin Improvement

   

2.25% or more

1.25%

0.25%

-0.75% or less

    1.2
1.0
0.8
0.6

 

For Levels of Performance for each Performance Measure between the specified levels of performance, the Committee shall determine the corresponding Performance Factor by pro-ration. For example, if the Net Annual Subscriber Growth is 750,000, then the corresponding Performance Factor shall be .75.

 

Average Annual Margin for a year is determined by dividing (a) OPBDA for such year plus the aggregate amount of Subscriber Acquisition Costs for such year by (b) Revenues for such year.

PERFORMANCE MEASURES

 

The Committee shall determine the Performance Factor for each Performance Measure on the basis of the following table, which shall be determined based solely on the performance of DIRECTV Holdings LLC and its Subsidiaries for owned and operated subscribers of DIRECTV, Inc.:

 

Performance Measure

  

Level of Performance

  

Performance

Factor

Net Annual Subscriber Growth  

1.5MM or more

1.0MM

0.5MM

0 or less

  

1.5

1.0

0.5

0.0

Average Annual Churn  

13% or less

17%

21%

25% or more

  

1.2

1.0

0.8

0.6

Average Annual ARPU Growth  

6% or more

4%

2%

0% or less

  

1.2

1.0

0.8

0.6

Average Annual SAC  

$450 or less

$650

$850

$1,050 or more

  

1.2

1.0

0.8

0.6

Average Annual Profit Margin Improvement  

2.25% or more

1.25%

0.25%

-0.75% or less

  

1.2

1.0

0.8

0.6

 

For Levels of Performance for each Performance Measure between the specified levels of performance, the Committee shall determine the corresponding Performance Factor by pro-ration. For example, if the Net Annual Subscriber Growth is 750,000, then the corresponding Performance Factor shall be .75.

 

Average Annual Margin is determined by dividing (a) OPBDA for such year plus the aggregate amount of Subscriber Acquisition Costs for such year, by (b) Revenues for such year.

 

EXCERPTS ON THIS PAGE:

10-K (2 sections)
Mar 1, 2005

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