Logitech 2012 Annual Report Download - page 125

or exclusive reason why exceptional executives or employees choose to join and stay at Logitech, or why they work
hard to achieve results for shareholders. In this regard, both the Compensation Committee and management believe
that providing a working environment and opportunities in which executives and employees can develop, express
their individual potential, and make a difference are also a key part of Logitech’s success in attracting, retaining
and motivating executives and employees.
EXECUTIVE COMPENSATION PRACTICES
Logitech has employed a number of executive compensation practices that reflect its compensation philosophy:
• The majority of executive officers’ compensation is designed to be performance-based, using a variety
of performance measures, including measuring Logitech’s performance against Board-established
fiscal and other targets for annual incentive cash bonuses, and relative total shareholder return for
performance-based equity awards.
• Logitech has claw-back provisions that apply to its annual incentive cash plan and its equity awards
plans, which provide for the recovery of compensation by Logitech in the event of misconduct.
• Logitech does not maintain any payment arrangements that would be triggered solely by a “change in
control” of Logitech.
• Logitech does not provide special retirement benefits designed solely for executive officers.
In addition, Logitech has been a leader in providing our shareholders advisory votes on compensation.
Beginning in 2009, Logitech voluntarily submitted its compensation philosophy, policies, and procedures to a
shareholder advisory vote. Our voluntary practice is now a requirement under U.S. legislation that guarantees
shareholders the ability to periodically cast advisory votes on executive compensation, and is reflected in Proposal 2
for our Annual General Meeting in September 2012. We remain committed to providing clear and thorough
disclosure on our executive compensation practices and actions, and our Compensation Committee will carefully
consider the voting results.
At our 2011 Annual General Meeting, shareholders demonstrated strong support for the compensation of our
named executive officers voting in favor of our advisory compensation resolution. The Compensation Committee
was mindful of this support for our pay-for-performance compensation philosophy in retaining our general
compensation practices and setting fiscal year 2012 compensation for our executive officers.
NAMED EXECUTIVE OFFICERS
In this Compensation Report, we refer to our “named executive officers” in many places. This term includes
the following individuals:
• Guerrino De Luca, our Chief Executive Officer and Chairman.
• Erik K. Bardman, our Chief Financial Officer.
• Junien Labrousse, our Senior Vice President, Consumer Computing Platform Group.
• L. Joseph Sullivan, our Senior Vice President, Worldwide Operations.
• Two former officers who either served as Chief Executive Officer during fiscal year 2012 or were
serving as an executive officer of Logitech at the end of fiscal year 2012: Gerald P. Quindlen and
Werner Heid, respectively.
ENGLISH
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