Logitech 2007 Annual Report Download - page 46

5.7 Additional Fees and Remunerations
During fiscal year 2007, Logitech did not pay any fees or remunerations other than those mentioned above
to its non-executive Directors and Executive Officers.
5.8 Loans or Credit Facilities
In accordance with the United States Sarbanes-Oxley Act of 2002, Logitech does not extend loans or credit
facilities to non-executive Directors and Executive Officers. Logitech has no such loans or credit facilities.
5.9 Highest Total Compensation
In fiscal year 2007, Mr. De Luca, Logitech’s President and Chief Executive Officer, was the Director that
received the highest total compensation from the Company. For his services rendered as President and Chief
Executive Officer during fiscal year 2007, Mr. De Luca received the following compensation (in thousands):
2007
Salary ............................................................. $ 631
Bonus ............................................................. 686
Other benefits(1) ..................................................... 21
Share option value(2) .................................................. 1,542
Total .......................................................... $2,880
(1) Includes 401(k) matching contributions.
(2) In April 2006, Mr. De Luca received an option grant for 200,000 shares. The options were granted at an
exercise price of $20.05 per share, which was the fair market value of the Company’s shares on the date of
grant. Each option provides the right to purchase one share at the exercise price. The share option value of
the grant is based on its grant-date fair value, estimated using the Black-Scholes-Merton option-pricing
valuation model, of $1.5 million or $7.71 per share. The options vest ratably over a four-year period from
the date of grant. Assumptions used in the calculation of share option values are presented in Note 4–Share-
Based Compensation in the Notes to the Consolidated Financial Statements. The share option value is not
necessarily indicative of the proceeds realizable from the exercise of the options and the sale of the
underlying shares or of the Company’s future share price performance.
Mr. De Luca did not receive any compensation for his service rendered as a Director.
6. Shareholders’ Participation Rights
6.1 Exercise and Limitations to Shareholders’ Voting Rights
Each share confers the right to one vote at the General Meeting of Shareholders. There are no limitations to
the number of voting rights that a shareholder or group of shareholders is entitled to exercise, and there are no
preferential voting rights. To exercise voting rights at the General Meeting of Shareholders, a shareholder must
have registered their shares by the date the notice convening the General Meeting of Shareholders is sent. Refer
to section 2.6 for more information on the registration process.
Any shareholder may be represented at a meeting by a person of its choice who need not be a shareholder of
the Company. The power of attorney must be made in writing. The use of a form prepared by the Company may
be required.
There are currently no limitations under Swiss law or in the Company’s Articles of Incorporation restricting
the rights of shareholders outside Switzerland to hold or vote Logitech shares.
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