Redbox 2008 Annual Report Download - page 94

Download and view the complete annual report

Please find page 94 of the 2008 Redbox annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 132

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132

the level of payout (between 0% and 200%) attributable to that measure, based on the applicable weighting for that
measure.
Performance Measure
Minimum
Goal Range* Weighting
Actual
Achievement*
Earnings Before Interest, Tax, Depreciation and
Amortization (EBITDA) . . . ............... $135-145 million 35.0% $159.9 million
Revenue ................................ $800-850 million 35.0% $911.9 million
Coin Machine Installations . . . ............... 1,250-1,750 7.5% 3,001
DVD Machine Installations . . . ............... 3,500-4,500 7.5% 6,700
Cross-Selling (selling a different product line to an
existing Company customer as evidenced by a
signed contract)......................... 3,000-7,000 1.5% 8,542
* Includes Redbox Automated Retail, LLC (“Redbox”) results. Calculation of actual achievement was to exclude
the effects of any acquisitions completed during 2008 and was to be adjusted for any divestitures for 2008. No
exclusions or adjustments were actually made.
Upon review of the Company’s achievement of the performance measures above, the Committee determined
that Messrs. Cole, Davis, Turner, Blakely and Rench would receive 119% of the portion of their target award
attributable to this component of the plan, which is equivalent to the blended average resulting from the percentage
achievement of each performance measure at the high end of the applicable minimum goal range. The Committee
awarded Mr. Camara 110% of the portion of his target award attributable to this component of the plan, which was
calculated in the same manner as for the other Named Executive Officers, except that it was based on the level of
achievement by Coinstar without including Redbox results and without giving weight to DVD machine installations
(the weighting of Coin machine installations was doubled), given that Mr. Camara’s role in Redbox’s results was
limited.
12