Logitech 2014 Annual Report Download - page 115

Bonus Plan performance targets and results for fiscal year 2014
The performance targets, actual performance, and funding percentages from the Bonus Plan in fiscal year
2014 for our executive officers are set out in the following table:
Participant Performance Measure
Performance
Target ($s in
millions)
Actual
Achievement
($s in millions)
Funding
Percentage
(Per Plan)
Guerrino De Luca
Bracken P. Darrell
Vincent Pilette
L. Joseph Sullivan }Revenue (50%)
Adjusted Operating Income (50%)
2,075.4
75.9
2,123.0
96.9
102%
128%
115%
Marcel Stolk Combined Corporate Revenue (25%), Corporate Operating Income
(25%), Business Group Metrics (50%) 119%
All executive officers 116%
Annual performance-based cash payments for fiscal year 2014
The cash bonus awards earned and paid in respect of fiscal year 2014 were based on the performance measures
and results set forth above. The following table details the annual performance-based cash payments for each
executive officer.
Named Executive Officer
2014 Annual
Incentive
Plan Bonus
Earned ($)
2013 Annual
Incentive
Plan Bonus
Earned ($)
Guerrino De Luca . . . . . . . . . . . . . . . . . . . . . . . . . . . . $575,000 $ —
Bracken P. Darrell . . . . . . . . . . . . . . . . . . . . . . . . . . . . 862,500 —
Vincent Pilette(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 512,000 n/a
L. Joseph Sullivan(2) . . . . . . . . . . . . . . . . . . . . . . . . . . 385,950 —
Named Executive Officer
2014 Annual
Incentive
Plan Bonus
Earned (CHF)
2013 Annual
Incentive
Plan Bonus
Earned (CHF)
Marcel Stolk(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 521,208 67,500
(1) The Compensation Committee did not pro-rate for time of service Mr. Pilette’s fiscal year 2014 bonus based on
his accomplishments in reducing operating expenses, driving operating leverage and delivering shareholder
value during the portion of fiscal year 2014 during which he was with the Company.
(2) Mr. Sullivan received a portion of his fiscal year 2014 bonus in Logitech shares as required by the Company
Executive Share Ownership Program.
(3) In fiscal year 2013, Mr. Stolk received a special cash incentive bonus of CHF 67,500 which was guaranteed
as part of his fiscal year 2012 employment contract.
Long-term equity incentive awards
During fiscal year 2014, the Compensation Committee granted our executive officers, excluding Mr. Pilette
who received a new-hire grant at the start of his employment in September 2013, annual long-term equity incentive
awards in the form of performance-based restricted stock units, or PSUs and time-based restricted stock units,
or RSUs. In fiscal year 2013, the Compensation Committee granted the executive officers Performance Stock
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