Vistaprint 2013 Annual Report Download - page 134

Our adjusted fiscal 2013 EPS of $1.516 was above our highest EPS goal under these 2012-2015 awards, so
we paid 160% of target levels to our named executive officers based on the formula set forth in their agreements,
as follows:
Name
2012-2015 Awards
Target Fiscal
2013 Incentive
($)
Actual Fiscal 2013
Incentive Paid
(160% of Target)
($)
Robert S. Keane .......................................... $142,500 $228,000
Katryn S. Blake .......................................... 93,750 150,000
Hauke K.U. Hansen ....................................... 41,250 66,000
Donald R. Nelson ......................................... 75,000 120,000
Ernst J. Teunissen ......................................... 93,750 150,000
Benefit Programs
The Compensation Committee believes that all employees based in the same geographic location should
have access to similar levels of health and welfare benefits, and therefore our executive officers receive the same
health and welfare benefits, including medical, dental, vision, and disability plans, group life and accidental death
and disability insurance and other benefit plans, as those offered to other employees in their location. U.S. based
employees may also participate in a 401(k) plan that provides a company match of up to 50% on the first 6% of
the participant’s eligible compensation that is contributed, subject to certain limits under the Code, with company
matching contributions vesting over a four-year period. We also provide customary pension plans to our Euro-
pean employees, including a pension plan for our employees in Switzerland, including Dr. Hansen, that complies
with the requirements of Swiss law. Vistaprint and each Swiss employee contribute to the Swiss pension plan on
a sliding scale based on each employee’s age from 7% to 18% of the employee’s salary, with the employee con-
tributing 33% of such amount and Vistaprint contributing 67%.
Perquisites
In general, executives are not entitled to benefits that are not otherwise available to all other employees who
work in the same geographic location. We do, however, from time to time enter into arrangements with some of
our named executive officers to reimburse them for living and relocation expenses relating to their work outside
of their home countries. You can find more information about these arrangements in the Summary Compensation
Table of this proxy statement.
Executive Retention and Other Agreements
We have entered into executive retention agreements with all of our executive officers. Under the executive
retention agreements, if we terminate an executive officer’s employment without cause (as defined in the agree-
ments) or the executive terminates his or her employment for good reason (as defined in the agreements) before a
change in control of Vistaprint or within one year after a change in control (as defined in the agreements), then
the executive is entitled to receive:
‰A lump sum severance payment equal to two years’ salary and bonus, in the case of Mr. Keane, or one
year’s salary and bonus, in the case of the other executive officers. These severance payments are based
on the executive’s then current base salary plus the greater of (1) the target bonus for the then current fis-
cal year, or (2) the target bonus for the then current fiscal year multiplied by the average actual bonus
payout percentage for the previous three fiscal years.
‰With respect to any outstanding annual incentive award under our Performance Incentive Plan, a pro rata
portion, based on the number of days from the beginning of the then current fiscal year until the date of
termination, of his or her target incentive for the fiscal year multiplied by the average actual payout per-
centage for the previous two fiscal years. If there is no change in control of Vistaprint during the fiscal
year, this pro rata portion is capped at the actual amount of annual incentive that the executive would have
received had he or she remained employed by Vistaprint through the end of the fiscal year.
Proxy Statement
37