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Table of Contents
up to a set amount, the payout is accelerated up to a maximum of 200%. For fiscal 2013, the deceleration and acceleration ranges set for the bonus
are unchanged from fiscal 2012:
Deceleration & Acceleration of Cash Incentive Bonus Payments
The achievement levels were certified by the Committee in February 2014. Performance target achievement and resulting payouts were as follows:
Fiscal 2013 Performance Measure Achievement (%) and Payout (%)
The total fiscal 2013 bonuses are stated in the Summary Compensation Table. The following table shows how much of the bonus for each NEO was
attributable to the performance measures applicable to that NEO (shown in the Weighting of Performance Measures table above) and the associated
achievement and payout with respect to that measure (shown in the Fiscal 2013 Performance Measures Achievement (%) and Payout (%) table
above):
Fiscal 2013 Bonus Payout Amounts ($) by Performance Measure
*In light of the fact that Mr. Wright was employed through the end of the Company’s 2013 fiscal year - January 31, 2013 - he earned a
bonus for the full year based on the Company’s performance.
Equity Incentive Awards
- The Committee decided to continue to award equity incentives solely in the form of time-based RSUs for fiscal 2013, as
it had in fiscal 2012. Time-based RSUs have been an important component of the Company’s overall compensation program that has helped drive
performance and deliver shareholder value. The Committee made its decision after carefully considering various other types of equity awards,
including performance based awards; the equity award practices of peer group companies; and the impact of the Company’s use of time-based
vested RSUs on executive and Company performance. RSUs were chosen due to certain attractive qualities: creating less dilutive effect on
shareholders, providing a straightforward
Performance Measure
No payout if performance target
is
underachieved by:
Payout at 200%
(maximum) if performance target
is
overachieved by:
EPS 50% 15%
Worldwide ROIC 50% 15%
Regional profitability (operating income) Americas in $ 50% 15%
Regional profitability (operating income) Americas as % 50% 15%
Americas ROIC 50% 15%
Regional profitability (contribution margin) Europe in € 50% 15%
Regional profitability (contribution margin) Europe as % 50% 15%
European ROIC 50% 15%
Performance Measure Achievement % Payout %
EPS 78% 73%
Worldwide ROIC 76% 71%
Regional profitability (operating income) Americas in $ 74% 69%
Regional profitability (operating income) Americas as % 77% 72%
Americas ROIC 75% 70%
Regional profitability (contribution margin) Europe in € 83% 78%
Regional profitability (contribution margin) Europe as % 80% 75%
European ROIC 78% 73%
Name Total Bonus
Payment
Amount
attributable to
EPS
Amount
attributable to
Worldwide ROIC
Amount
attributable to
Regional ROIC
Amount
attributable to
regional
profitability
measured in $/€
Amount
attributable to
regional
profitability
as % of sales
Dutkowsky
$
750,375
$
566,663
$
183,712
N/A
N/A
N/A
Howells
$
387,578
$
292,688
$
94,890
N/A
N/A
N/A
Cano
$
433,924
$
105,941
N/A
$
105,941
$
113,198
$
108,844
Wright*
$
278,249
$
71,522
N/A
$
68,582
$
67,603
$
70,542
Tonnison
$
164,205
$
124,003
$
40,202
N/A
N/A
N/A