First Data 2014 Annual Report Download - page 121
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Annual Cash Incentives
Plan Design and Mechanics
Executive officers are eligible to receive a performance-based annual cash incentive under the SEIP. Consistent with First Data's overall compensation
philosophy, cash awards are generally a small percentage relative to equity-based awards for executives.
Awards are based primarily on Company performance during the fiscal year and secondarily on individual results during the year. To best accomplish this,
the Committee approved a fully discretionary funding structure for 2014 for the SEIP. This structure was deemed most appropriate to ensure the Committee
maintained the discretion and ability to appropriately reward the performance of each executive.
The Committee has approved cash bonuses for the 2014 plan year as follows. At the time of hiring, Ms. Armine-Klein and Mr. Das were each offered a
minimum cash incentive, but both subsequently agreed to waive their minimum cash incentive for 2014. For 2015, no executives have any minimum cash
incentive amounts and all awards are completely performance based.
Frank J. Bisignano $ 1,140,000
Michael K. Neborak 400,000
Cynthia Armine-Klein 625,000
Sanjiv Das 625,000
Joseph J. Plumeri 540,000
Equity
As described above, equity compensation is at the heart of the Company’s compensation philosophy. Incumbent executives received equity awards in 2014
to further bolster the role equity plays in their total compensation opportunity. Mr. Plumeri and Mr. Neborak made personal investments to purchase shares of
stock and received option grants. Mr. Plumeri, also received a 2014 restricted stock grant based on his contributions during 2013 as a senior advisor.
Ms. Armine-Klein and Mr. Das received restricted stock and option grants to replace equity holdings forfeited due to departing their previous employer.
Annual grants were made to Mr. Bisignano and Mr. Winborne on February 10, 2014, with amounts determined in the sole discretion of the Committee based
on each executive’s role and performance. These equity awards were granted under the 2007 Equity Plan and were comprised of both options and restricted
stock awards.
Executives hired during 2014, also received the following equity awards. All stock options granted during 2014 have a strike price of $4.00 per share.
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