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VZ » Topics » Corporate Performance Measures

This excerpt taken from the VZ DEF 14A filed Mar 17, 2008.

Corporate Performance Measures

 

The Committee approved the following 2007 corporate performance measures:

 

 

·

$2.28 for adjusted earnings per share,3 weighted at 50% of the total award.

  · A diversity measure weighted at 5% of the total award providing that: 50% of new hires and promotions at the manager level and above consist of minority and female candidates; and that $10 million in supplier spending be directed to minority and female owned or operated firms.

 

2 The definition of return on equity in the Short-Term Plan excludes special items, such as extraordinary losses, and losses from discontinued operations, business combinations, changes in accounting principles and certain other items.

3 Adjusted earnings per share excludes the following items from income:

  · Merger integration costs;
  · Gain/loss on the disposition of international investments in Puerto Rico and Venezuela;
  · Access line spin-off related charges;
  · Contributions to the Verizon Foundation;
  · Taxes on foreign distributions; and
  · Severance and other related charges.

 

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Table of Contents
  · An income-weighted measure reflecting a composite of Verizon Wireline and Verizon Wireless performance against their performance measures, weighted at 45% of the total award.

 

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