Logitech 2015 Annual Report Download - page 182

3. Compensation of members of the Group Management Team
3.1. Overview
The Compensation Committee believes the design of our executive compensation programs –
including the balance among fixed compensation (base salary), short-term incentives (our annual incentive
bonus program) and long-term incentives (equity) – has and will continue to meet our goal of providing
our executives with market-competitive base salaries, compensation packages that provide for above
market rewards when Logitech outperforms our internal goals or the overall market, and limited rewards
when Logitech’s performance does not meet these objectives. Overall, our Compensation Committee
has developed executive compensation programs that it believes will provide an incentive to drive the
Company’s performance that will reward our shareholders and, as a result of these programs, will reward
the executives who help to deliver improved results.
The following tables set forth the highest compensation paid to a member of the Group Management
Team and the total amount of compensation paid to members of the Group Management Team for
services performed in the fiscal years ended March 31, 2015 and 2014:
3.2. Compensation of Group Management Team in Fiscal Years 2015 and 2014
Fiscal Year 2015
(in CHF)(1)
Base
Salary Bonus(2)
Stock
Awards(3)
Other
Compensation(4) Total
Highest Paid Executive
Bracken P. Darrell,
President and CEO . . . . . . . . . 765,016 1,080,586 4,088,056 86,750 6,020,408
Total Group Management Team . . . 2,148,590 2,762,592 7,848,716 458,166 13,218,064
Fiscal Year 2014
(in CHF)(5)
Base
Salary Bonus(2)
Stock
Awards(3)
Other
Compensation(4) Total
Highest Paid Executive
Vincent Pilette,
Chief Financial Officer . . . . . . . 263,072 470,070 4,652,543 76,037 5,461,722
Total Group Management Team(6) . . 1,859,818 2,157,631 9,346,603 379,952 13,744,004
1) Fiscal year 2015 U.S. Dollar amounts converted to Swiss Francs using the 12 month average (April
2014 to March 2015) exchange rate of 1CHF = US$1.0784.
2) Bonus reflects amounts earned under the Logitech Management Performance Bonus Plan or other
cash bonuses approved by the Compensation Committee.
3) Amounts shown reflect the grant date fair value, by fiscal year, of stock awards granted in such fiscal
year. The key assumptions and methodology for valuation of stock awards are presented in Note 4
to Logitech’s consolidated financial statements.
4) Other compensation includes term life insurance premiums, long-term disability insurance premiums,
employer’s contribution to medical premiums, tax preparation services (and associated tax gross-
up), relocation expenses, travel costs in lieu of relocation, matching contributions made by the
Company to the Logitech Inc. 401(k) plan or the Logitech Employee Pension Fund, and employer’s
contribution to social security and Medicare.
5) Fiscal year 2014 U.S. Dollar amounts converted to Swiss Francs using the 12 month average (April
2013 to March 2014) exchange rate of 1CHF = US$1.0892.
6) Includes compensation paid to Mr. Eric Bardman who departed the Company on April 26, 2013.
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Annual Report Fiscal Year 2015