Logitech 2011 Annual Report Download - page 118

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During fiscal year 2011 Mr. Labrousse relocated from the United States to Switzerland, where, in addition
to his duties as Executive Vice President of Products, he assumed the duties of President, Logitech Europe. In
connection with his relocation, Mr. Labrousse received a relocation bonus of $112,500, as discussed above under
the heading “Other Cash Compensation”, and Logitech paid a total of approximately $115,000 for the costs of his
relocation, under the terms of a relocation policy applicable to all relocating employees. The amount of the bonus
and the aggregate amount of the relocation costs for Mr. Labrousse are reflected in the Summary Compensation
Table below.
Other Benefits
Logitech’s executive officers are eligible to receive the same benefits as all other employees, including the
following:
• Companycontributionstoretirementprograms,suchastheLogitechInc.401(k).
• Health,welfareandlifeinsurancebenefits.
• OpportunityforparticipationintheLogitechEmployeeSharePurchasePlans.
OTHER COMPENSATION POLICIES
Derivatives
We do not permit any Company insiders, including officers and directors, to trade in puts, calls, warrants or
other derivative Logitech securities traded on an exchange or in any other organized securities market.
Recovery of compensation for restatements and misconduct
In June 2010 the Compensation Committee adopted a policy regarding the recovery of compensation paid
to an executive officer or the principal accounting officer of the Company. Under the terms of the policy we may
recover bonus amounts, equity awards or other incentive compensation awarded or paid within the prior three years
to a covered officer if the Compensation Committee determines the compensation was based on any performance
goals that were met or exceeded as a result, in whole or in part, of the officer’s fraud or misconduct, or the officer
knew at the time of the existence of fraud or misconduct that resulted in performance goals being met or exceeded,
and a lower amount would otherwise have been awarded or paid to the officer. In addition, under the policy Logitech
may recover gains realized on the exercise of stock options or on the sale of vested shares by an executive officer
or the principal accounting officer if, within three years after the date of the gains or sales, Logitech discloses the
need for a significant financial restatement, other than a financial restatement solely because of revisions to US
GAAP, and the Compensation Committee determines that the officer’s fraud or misconduct caused or partially
caused the need for the restatement, or the covered officer knew at the time of the existence of fraud or misconduct
that resulted in the need for such restatement.
In addition, our 2006 Stock Incentive Plan and our Management Performance Bonus Plan provide that awards
under the plans are suspended or forfeited if the plan participant, whether or not an executive officer:
• hascommittedanactofembezzlement,fraudorbreachoffiduciaryduty;
• makesanunauthorizeddisclosureofanyLogitechtradesecretorconfidentialinformation;or
• inducesanycustomertobreachacontractwithLogitech.
Any decision to suspend or cause a forfeiture of any award held by an executive officer under the 2006 Stock
Incentive Plan or the Management Performance Bonus Plan is subject to the approval of the Board of Directors.