First Data 2010 Annual Report Download - page 141

Table of Contents
During the annual pay review process which included consideration of individual performance, salary increase trends and competitive market pay for
each executive position, Mr. Winborne received an increase to $600,000 (4.4% increase), Mr. Money received an increase to $525,000 (10.4% increase) and
Mr. Boucher received an increase to $550,000 (4.8%). Aside from the pay adjustments listed above, the Committee has not approved any other executive pay
increases for 2011. Current base salary levels for named executive officers are as follows:
Base Salary as
of December 31, 2010
Base Salary as of
March 1, 2011
Jonathan J. Judge $ 1,500,000 $ 1,500,000
Ray E. Winborne $ 575,000 $ 600,000
Edward A. Labry III $ 1,000,000 $ 1,000,000
David R. Money $ 475,000 $ 525,000
Peter W. Boucher $ 525,000 $ 550,000
Annual Cash Incentives
Plan Design and Mechanics
Executive officers are eligible to receive a performance-based annual cash incentive under the FDC Senior Executive Incentive Plan ("SEIP"). SEIP
payouts to executive officers are based on target annual cash incentive levels established by the Committee, company performance and individual
performance in areas such as attainment of company or business unit strategic objectives. The SEIP is an essential element of FDC's compensation program
because the awards are earned on a pay-for-performance basis.
At the beginning of 2010, the Committee approved target bonus levels for all executive officers. The Committee also approved a fully discretionary
funding structure for 2010 for the SEIP. This structure was deemed most appropriate to ensure the Committee maintained the discretion and ability to
appropriately incent and reward the performance of each executive based upon all factors relevant to evaluation of company and individual performance,
including, but not limited to: EBITDA and revenue attainment, execution of FDC's strategy, accomplishment of FDC's key objectives, attainment of service
level and/or other operating objectives, attainment of individual objectives and demonstrated leadership behaviors.
In accordance with Internal Revenue Code Section 409A, annual bonuses earned for a fiscal year are paid prior to March 15th of the following year.
This allows sufficient time to review company financial performance and conduct individual performance reviews prior to determining award levels.
Determination of 2010 Awards
The 2010 awards paid in February of 2011 to executive officers under the SEIP were determined by the Committee after careful evaluation of FDC and
executive performance during 2010. The Committee considered both financial and strategic results during the year in determining SEIP funding for 2010. The
Committee established an 85% funding level for the SEIP based on a combination of strong progress and accomplishments in key strategic areas such as
customer service, product development and operational efficiency, and financial results dampened by a small decrease in adjusted EBITDA compared to the
prior year.
The Committee awarded each executive 85% of their individual incentive target for the year, with the exception of Mr. Judge, who received a pro rata
bonus payment for 2010, per his employment agreement.
2010 SEIP
Target
SEIP Funding
Percent
2010 SEIP
Payout
Jonathan J. Judge (1) $ 567,123 n/a $ 567,123
Ray E. Winborne (2) $ 438,904 85% $ 373,068
Edward A. Labry III (3) $ 1,015,625 85% $ 863,281
David R. Money $ 475,000 85% $ 403,750
Peter W. Boucher $ 525,000 85% $ 446,250
(1) Mr. Judge's target is prorated based on his hire date of October 1, 2010.
(2) Mr. Winborne's target is prorated based on his target bonus level prior to, and following, his appointment as Chief Financial Officer on November 10,
2010.
(3) Mr. Labry's target is prorated based on his bonus target prior to, and following, his October 1, 2010 base pay and SEIP target increase.
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