ZBRA » Topics » 2009 Zebra Incentive Plan

This excerpt taken from the ZBRA DEF 14A filed Apr 21, 2009.
Under the 2009 Zebra Incentive Plan.

Income from Operations1 means income from operations for the applicable period, adjusted to remove non-recurring charges, of the Company (on a consolidated basis) or SPG, as applicable. In the event of acquisitions, generally for the first quarter beginning at least six months after an acquisition closes, the financial targets will be adjusted to incorporate the acquired company’s budget or financial plan, and the reported financial performance will also be adjusted to include the acquired company’s actual performance the first quarter beginning at least six months after an acquisition closes.

Return on Invested Capital” means Net Operating Profit After Tax for 2009, divided by Invested Capital, where:

Net Operating Profit After Tax” means Income From Operations x (1-budget tax rate); and
 
 “Invested Capital” means total assets less cash and cash equivalents, current and long-term investments and marketable securities, and non-interest-bearing current liabilities, and which is calculated as the average Invested Capital reflected on the five balance sheets for the end of the following quarters: Q4 2008, Q1 2009, Q2 2009, Q3 2009 and Q4 2009.
 
1       Non-recurring charges specifically include such expense items as (i) one-time charges, non-operating charges or expenses incurred that are not under the control of operations management, as ratified by the Compensation Committee; (ii) restructuring expenses; (iii) exit expenses; (iv) integration expenses; (v) Board of Directors project activities (e.g., CEO search, director searches); or (vi) gains or losses on the sale of assets; (vii) acquired in-process technology; or (viii) impairment charges. The foregoing list is not exhaustive and is meant to represent examples of the kind of expenses typically excluded from the calculations of Income from Operations.

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

2009 Zebra Incentive Plan

On February 12, 2009, the Compensation Committee (the “Committee”) of the Board of Directors of Zebra Technologies Corporation (the “Company”) approved the 2009 Zebra Incentive Plan (the “2009 Plan”). Participation in the 2009 Plan is limited to management-level employees of the Company and its subsidiaries. Participants include all of the Company’s executive officers, including Anders Gustafsson, Hugh K. Gagnier, Philip Gerskovich, Michael C. Smiley and Michael H. Terzich (such individuals, “Named Officers”).

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