VZ » Topics » Attract, Retain and Motivate High-Performing Executives
This excerpt taken from the VZ DEF 14A filed Mar 23, 2009.
Attract, Retain and Motivate High-Performing Executives
In order to attract, retain and motivate executives, the Companys compensation program features:
Compensation opportunities that are competitive with Verizons peer companies. The Committee generally targets total
compensation opportunities to fall within the 60th to 65th percentile of the Related
Dow Peers. The Committee believes that this is an appropriate level of compensation because of the significant depth of each executives experience, Verizons emphasis on performance-based incentive pay and the elimination of certain fixed
pay elements, including guaranteed defined benefit pension and supplemental pension benefits.
Three-year long-term performance cycles that encourage high-performing executives to remain with the company.