Intel 2013 Annual Report Download - page 129

group, in each case as specified and weighted by the Committee: (i) product release schedules,
(ii) new product innovation, (iii) product cost reduction through advanced technology, (iv) brand
recognition/acceptance, (v) product ship targets, (vi) customer satisfaction, (vii) performance
against cost and productivity goals, (viii) effectiveness of investment strategies towards stated
goals, and (ix) inventory/supply chain management initiatives, or (x) such other criteria as the
Committee may determine are appropriate to measure the performance of a Covered Individual
in carrying out his or her assigned duties and responsibilities, as defined within the first 90 days
of the performance period. If an unusual or extra-ordinary event makes one or more of the
operational goals obsolete, the Committee has the discretion to adjust or eliminate the goal(s)
as appropriate.
Notwithstanding anything to the contrary contained herein, different operational goals may be
approved or may be assigned different weights for Covered Individuals at the business unit
level, so that the operational component of the Plan Multiplier for the employees of the business
unit will be specific to that business unit’s results (but will not affect the overall weighting of the
Plan Multiplier). Operational performance criteria for support function employees will be based
upon the average of all of the business units’ results.
(f) Incentive Baseline. The incentive baseline amount for each Covered Individual
shall be determined by the Committee in its sole discretion with respect to each performance
period. A performance period shall be a single fiscal year of the Company unless otherwise
determined by the Committee.
(g) Individual Performance Adjustment: The individual performance adjustment
percentage can be between 80% and 120%. The Committee may adjust a Covered Individual’s
Annual Incentive Payment upward or downward by up to 20% based upon individual
performance. The Committee reserves the right to apply subjective, discretionary criteria to
determine the individual performance adjustment percentage.
(h) Discretionary Adjustment and Maximum Annual Incentive Payment. Upon
determining the result of multiplying the Covered Individual's Incentive Baseline, the Plan
Multiplier, and the Individual Performance Adjustment, the Committee may reduce but not
increase the result by applying discretionary criteria. The Annual Incentive Payment payable
hereunder shall be paid in lieu of any incentive payable under the Company’s broad-based
variable cash incentive program. No Covered Individual shall receive an Annual Incentive
Payment for a performance period in excess of $10,000,000.
5. PAYMENT OF INCENTIVE
(a) Annual Incentive Payments shall be made in cash, and no Annual Incentive
Payment shall be paid to a Covered Individual unless he or she is an employee of the Company
as of the last day of the performance period. The Committee may establish rules in its sole
discretion regarding the Annual Incentive Payment payable, if any, in the case of the retirement,
death or disability of a Covered Individual prior to the end of a performance period, and the
persons to whom such payments shall be made.
(b) If the Company’s financial statements are the subject of a restatement due to error
or misconduct, to the extent permitted by governing law, in all appropriate cases, the Company
will seek reimbursement of excess incentive cash compensation paid under the Plan to Covered
Individuals for the relevant performance periods. For purposes of this Plan, excess incentive
cash compensation means the positive difference, if any, between (i) the Annual Incentive
Payment paid to the Covered Individual and (ii) the Annual Incentive Payment that would have