CenturyLink 2015 Annual Report Download - page 10

TABLE OF CONTENTS
Page
GENERAL INFORMATION ABOUT THE ANNUAL MEETING ............................... 1
ELECTION OF DIRECTORS ............................................................. 3
CORPORATE GOVERNANCE ........................................................... 10
Governance Guidelines ............................................................... 10
Independence ...................................................................... 12
Committees of the Board ............................................................. 12
Director Nomination Process .......................................................... 13
Compensation Setting Process ......................................................... 16
Risk Oversight ..................................................................... 16
Top Leadership Positions and Structure .................................................. 16
Waivers of Governance Requirements ................................................... 17
Access to Information ................................................................ 17
RATIFICATION OF THE SELECTION OF THE INDEPENDENT AUDITOR ..................... 18
AUDIT COMMITTEE REPORT ........................................................... 19
PROPOSAL TO APPROVE AN AMENDMENT TO OUR 2011 EQUITY INCENTIVE PLAN ........ 20
ADVISORY VOTE ON EXECUTIVE COMPENSATION ...................................... 28
SHAREHOLDER PROPOSAL ............................................................ 29
OWNERSHIP OF OUR SECURITIES ...................................................... 32
Principal Shareholders ............................................................... 32
Executive Officers and Directors ....................................................... 33
COMPENSATION DISCUSSION AND ANALYSIS .......................................... 34
Executive Summary ................................................................. 34
Our Compensation Philosophy and Linkage to Pay for Performance ........................... 36
Our Compensation Program Objectives and Components of Pay .............................. 41
Our Policies, Processes and Guidelines Related to Executive Compensation ..................... 51
COMPENSATION COMMITTEE REPORT ................................................. 58
EXECUTIVE COMPENSATION .......................................................... 59
Overview .......................................................................... 59
Incentive Compensation and Other Awards ............................................... 61
Pension Benefits .................................................................... 65
Deferred Compensation .............................................................. 67
Potential Termination Payments ........................................................ 68
DIRECTOR COMPENSATION ........................................................... 73
Overview .......................................................................... 73
Cash and Stock Payments ............................................................. 74
Other Benefits ...................................................................... 74
Director Stock Ownership Guidelines ................................................... 75
PERFORMANCE GRAPH ............................................................... 76
COMPENSATION COMMITTEE INTERLOCKS AND INSIDER PARTICIPATION ................ 77
TRANSACTIONS WITH RELATED PARTIES .............................................. 77
Recent Transactions ................................................................. 77
Review Procedures .................................................................. 77
SECTION 16(A) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE ...................... 77
ADDITIONAL INFORMATION ABOUT THE MEETING ..................................... 77
Quorum ........................................................................... 77
Vote Required to Elect Directors ....................................................... 77
Vote Required to Adopt Other Proposals at the Meeting ..................................... 78
Effect of Abstentions ................................................................ 78
Effect of Non-Voting ................................................................ 78
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