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VZ » Topics » Elements of Compensation

This excerpt taken from the VZ DEF 14A filed Mar 23, 2009.

Elements of Compensation

In setting total compensation at competitive levels, the Committee determines the appropriate balance between:

 

  · Fixed and variable pay elements;
  · Short- and long-term pay elements; and
  · Cash and equity-based pay elements.

 

The following table illustrates the elements of Verizon’s compensation program and the Committee’s weighting of each.

 

Pay Element   Primary Objective   

% of Compensation

(Approximate)

Base salary   Attract and compensate high-performing and experienced executives    10%
Annual incentive opportunity   Motivate executives to achieve challenging short-term performance measures    20%
Long-term incentive opportunity   Align executives’ interests with those of shareholders to grow long-term value and retain executives    70%

 

The named executive officers are eligible to receive medical, disability and savings plan benefits that are generally provided to all management employees. They are also eligible for certain executive life insurance, financial planning and corporate transportation benefits, which are provided in order to attract and retain high-performing executives and to minimize any risks to the executives’ safety and security.

 

"Elements of Compensation" elsewhere:

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