iRobot 2014 Annual Report Download - page 30

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24
The following tables summarize the 2014 performance measures, associated weightings and goals for each of the named
executive officers under the Senior Executive Incentive Compensation Plan. As discussed previously, the payout opportunity
ranges from 25% of the target incentive opportunity for achieving threshold level of performance to 195% of the target incentive
opportunity for achieving maximum level of performance.
For Mr. Angle, Mr. Campanello, Dr. Pirjanian and Ms. Dean, the Senior Executive Incentive Compensation Plan targets
for 2014 were:
Performance Measure Weighting
Performance Goal
Threshold Target Maximum
Adjusted EBITDA, excluding cash
incentive compensation expense 50% $81.6 million $90.7 million $117.9 million
Revenue 50% $518.0 million $575.5 million $748.2 million
For Mr. Cerda, whose responsibilities are more focused on results from our Home Robots business unit, the Senior Executive
Incentive Compensation Plan targets for 2014 were:
Performance Measure Weighting
Performance Goal
Threshold Target Maximum
Adjusted EBITDA, excluding cash
incentive compensation expense 37.5% $81.6 million $90.7 million $117.9 million
Home Robots Business Unit Revenue 62.5% $462.6 million $514.0 million $668.2 million
The compensation committee chose this mix of financial targets for cash incentive compensation because it believes that
executive officers should be focused on a small set of critical, team-based financial and operating metrics that reinforce the
executive's role and impact and company business strategy. Also, the compensation committee established a hurdle where the
available total incentive compensation payout for the entire employee base -- including the named executive officers -- would be
reduced on a dollar-for-dollar basis if Adjusted EBITDA, excluding cash incentive compensation expense, fell below $81.6
million.
The following table shows our achievement against the various metrics used for calculating the 2014 cash incentive
compensation for our named executive officers:
Performance Goal
Metric Threshold Target
(100%) Maximum 2014 Actual
Performance
Actual
Percentage
Earned (as %
of target)
$ in millions
Adjusted EBITDA, excluding cash
incentive compensation expense $81.6 $90.7 $117.9 $88.2 86%
Company Revenue $518.0 $575.5 $748.2 $556.8 84%
Home Robots Revenue $462.6 $514.0 $668.2 $507.4 94%
Based on our achievement of the performance metrics set forth above, the following cash awards were made to the named
executive officers for performance in fiscal 2014 pursuant to our Senior Executive Incentive Compensation Plan:
Incentive Bonus Award
Original
Target Incentive
Opportunity Achievement ICP Earned &
Paid
Colin M. Angle $650,000 85% $552,500
Alison Dean $250,000 85% $212,500
Russell J. Campanello $195,000 85% $165,750
Christian Cerda $175,000 91% $159,250
Paolo Pirjanian $210,000 85% $178,500