Logitech 2015 Annual Report Download - page 95
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Compensation Report for Fiscal Year 2015
85 | – Proxy Statement
2015 Annual General Meeting Invitation, Proxy Statement
(2) Except as noted below, reflects amounts earned under the Logitech Management Performance Bonus Plan. This
non-equity incentive plan compensation was earned during the applicable fiscal year but, for executive officers,
was paid during the next fiscal year in accordance with the terms of the Logitech Management Performance
Bonus Plan. For fiscal year 2015, based on the unexpected and unprecedented level of currency fluctuation
during the second half of the fiscal year, the Compensation Committee exercised discretion and approved the
fiscal year 2015 revenue metric results with respect to the Bonus Plan using constant currency. Other than that
adjustment, the bonus payments for fiscal year 2015 followed the fiscal year 2015 bonus program under the Bonus
Plan established by the Compensation Committee at the beginning of the fiscal year.
(3) Details regarding the various amounts included in this column are provided in the following table entitled “All Other
Compensation.”
(4) Mr. De Luca received a bonus of $460,000 and an RSU grant of 250,000 shares in fiscal year 2014 in recognition
for his service as Logitech’s acting Chief Executive Officer from July 2011 through January 2013.
(5) Mr. Darrell joined the Company as President on April 9, 2012 and was appointed as Chief Executive Officer of the
Company effective January 1, 2013.
(6) Mr. Pilette joined the Company as Chief Financial Officer on September 3, 2013.
(7) Mr. Stolk was designated as an executive officer in September 2013. Mr. Stolk’s fiscal year 2015 compensation
amounts in Swiss Francs were converted using the 12 month average (April 2014 to March 2015) exchange rate
of 1 Swiss Franc to 1.0784 U.S. Dollars. Mr. Stolk’s fiscal year 2014 compensation amounts in Swiss Francs
were converted using the 12 month average (April 2013 to March 2014) exchange rate of 1 Swiss Franc to 1.13
U.S. Dollars. In January 2015, Mr. Stolk received a special retention bonus of CHF320,000 (or $345,091 in U.S.
Dollars) in recognition of his leadership role in helping transform Logitech.