ZBRA » Topics » Performance Components.

This excerpt taken from the ZBRA 8-K filed Feb 19, 2009.

Performance Components.

Financial Performance Component. Incentive awards for participants under the 2009 Plan are based on two incentive performance components. One is a financial performance component (the “Financial Component”) consisting of the achievement of one or more financial performance goals of the Company and/or, if applicable, of the participant’s assigned business unit. Performance achievement with respect to the Financial Component is measured both for the whole fiscal year (the “Annual Performance Period”) and for each of two separate two-quarter performance periods (each, a “Semi-Annual Performance Period”). The first Semi-Annual Performance Period consists of the Company’s first two fiscal quarters of 2009, and the second Semi-Annual Performance Period consists of the last two fiscal quarters of 2009.

The Financial Component’s performance goals are expressed in terms of financial performance measures which are described in the 2009 Plan (the “Financial Performance Goals”). In cases where multiple Financial Performance Goals are the basis of the Financial Component of a participant’s incentive award, such as when the Financial Component is tied to the performance of the Company and of a business unit, or to multiple performance measures of a business unit (e.g., revenue, total bookings, adjusted EBITDA), a relative weight percentage is assigned to each of the Financial Performance Goals such that the total of all weight percentages assigned to the multiple Financial Performance Goals for the participant equals 100%. In such cases, the achievement of such financial performance measures will be calculated separately and the assigned weighting with respect to each financial performance measure shall be used to determine the achievement of the Financial Performance Goal.

With respect to the Named Officers, Messrs. Gustafsson’s, Smiley’s and Gerskovich’s Financial Performance Goals for the Semi-Annual Performance Periods are based on consolidated income from operations of the Company, and Messrs. Gagnier’s and Terzich’s Financial Performance Goals for the Semi-Annual Performance Periods are based 75% on consolidated income from operations of the Company and 25% on income from operations of their assigned business unit, the Specialty Printer Group (“SPG”). Such Financial Performance Goals for the Semi-Annual Performance Periods (“Semi-Annual Performance Goals”) for the Company’s executive officers, including the Named Officers, are established by the Committee. The Named Officers’ Semi-Annual Performance Goals for the first Semi-Annual Performance Period were established at budgeted levels of income from operations (for both the Company and SPG). The Semi-Annual Performance Goals of the Company’s executive officers, including the Named Officers, for the second Semi-Annual Performance Period will be determined by the Committee within 45 days after the beginning of the second Semi-Annual Performance Period.

Under the 2009 Plan, the Financial Performance Goals for each participant for the Annual Performance Period (“Annual Performance Goals”) will be the sum of the participant’s Semi-Annual Performance Goals for the two Semi-Annual Performance Periods. Each participant’s Semi-Annual Performance Goals will be based on the same performance measure (e.g., income from operations) for both Semi-Annual Performance Periods.

Personal Component. Each participant’s incentive award under the 2009 Plan is also based on a second component (the “Personal Component”) consisting of the achievement of one or more other performance goals (the “Personal Performance Goals”). Performance achievement with respect to the Personal Component is measured for the Annual Performance Period.

The Personal Performance Goals of the Company’s executive officers, including the Named Officers, will be determined by the Committee prior to March 31, 2009.

 

1


Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki