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This excerpt taken from the WDC DEF 14A filed Sep 24, 2007. Elements
of Compensation
Our current executive compensation program consists of several
compensation elements. We believe that each of these elements
helps us to achieve one or more of the compensation objectives
specified above. The elements of our current executive
compensation program are:
The Compensation Committee’s practice is to consider all
elements of compensation and our compensation philosophy when
determining the appropriate level and mix of each element of
compensation for our executive officers. While the Compensation
Committee follows general guidelines in setting compensation for
our executives, as described in more detail below, members of
the Compensation Committee use their experience and judgment in
determining the specific level and mix of compensation for each
of our executive officers.
The Compensation Committee reviews compensation to our executive
officers on an annual basis and at the time of hiring, a
promotion or other change in responsibilities. The Compensation
Committee’s annual review typically occurs in late Summer
or early Fall of each year and, in fiscal 2007, this review
commenced in August 2006 and continued during the Compensation
Committee’s meeting in November 2006. The annual review by
the Compensation Committee consists of a review of all elements
of total annual cash compensation and long-term incentive
compensation for the executive officers.
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