Staples 2014 Annual Report Download - page 44

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EXECUTIVE COMPENSATION AND COMPENSATION DISCUSSION AND ANALYSIS
40 STAPLES Notice of Annual Meeting of Stockholders
Sound Compensation Governance and Practices
Long-Term Alignment ✓ Stock ownership guidelines (5x for CEO, 3x to 4x for other NEOs)
✓ No employment agreements for NEOs
✓ Double trigger change in control provisions in severance agreements
✓ 3-year performance periods tied to TSR
Transparency ✓ Rigorous, objective financial metrics on annual and long-term awards
✓ No excise tax gross-ups in executive severance agreements
✓ Minimal, reasonable perquisites
Compensation Risk Oversight ✓ Robust clawback policy
✓ Policy prohibiting hedging
✓ Predetermined stock grant dates
✓ Independent compensation consultant hired by the Committee performs no other
services for the Company