Visa 2008 Annual Report Download - page 215

Table of Contents
the committee, in its discretion, determined that Mr. Saunders had exceeded his individual performance goals and therefore the individual portion of
Mr. Saunders's annual incentive was awarded at 150% of the target.
For the other executive officers, 70% of their fiscal 2008 annual award was determined based on the achievement of corporate performance measures
determined by the compensation committee, which are described above. The remaining 30% was based on individual/group performance measures which
were determined by the Chief Executive Officer and reviewed by the compensation committee. The compensation committee determined that the split of 70%
corporate and 30% individual/group performance goals for our other executive officers appropriately reflects that, like our Chief Executive Officer, each of
these officers shares the primary goals and objectives of the overall Company, but also recognizes the importance of motivating them to achieve the goals that
relate solely to their area of responsibility.
Mr. Pollitt's fiscal 2008 individual performance goals were: (1) successful completion of our initial public offering; (2) delivery of the finance-related
synergy savings committed to in the fiscal 2008 budget; (3) creation of a global integrated finance organization with clear accountabilities for reporting and
pricing/incentive processes, practices and controls; and (4) establishment of effective operations and controls. The Chief Executive Officer, in his discretion,
determined, and the compensation committee agreed, that Mr. Pollitt exceeded his individual performance goals and therefore the individual portion of
Mr. Pollitt's annual incentive was awarded at 200% of the target. Additionally, based on Mr. Pollitt's outstanding contribution toward the success of the initial
public offering, the Chief Executive Officer recommended that Mr. Pollitt receive an additional discretionary bonus of $500,000 and the compensation
committee agreed and approved the additional amount.
Mr. Morris's fiscal 2008 individual performance goals were: (1) attainment of specified financial and market goals in various markets;
(2) implementation of a global client management process; (3) enhancement of effectiveness of spending in marketing and sponsorships; and (4) globalization
and improvement of our talent management process. The Chief Executive Officer, in his discretion, determined, and the compensation committee agreed, that
Mr. Morris exceeded his individual performance goals and therefore the individual portion of Mr. Morris's annual incentive was awarded at 170% of the
target.
Mr. Partridge's fiscal 2008 individual performance goals were: (1) successful completion of the initial public offering; (2) delivery of superior financial
performance; (3) maintenance of core processing systems availability; (4) attainment of specified purchase volume growth rates; and (5) establishment of a
global integrated organization. The Chief Executive Officer, in his discretion, determined, and the compensation committee agreed, that Mr. Partridge
exceeded his individual performance goals and therefore the individual portion of Mr. Partridge's annual incentive was awarded at 200% of the target.
Mr. Floum's fiscal 2008 individual performance goals were: (1) litigation management; (2) provision of superior legal counsel; (3) efficient execution of
all transactional legal matters related to Visa Inc.'s business goals and objectives; (4) advancement of legislative and regulatory agenda; and (5) management
of internal and external resources in a cost-effective manner. The Chief Executive Officer, in his discretion, determined, and the compensation committee
agreed, that Mr. Floum exceeded his individual performance goals and therefore the individual portion of Mr. Floum's annual incentive was awarded at 164%
of the target.
Under the annual incentive plan, target incentive opportunities are expressed as a percentage of base salary, which percentage is determined by the
compensation committee, based on position, market pay levels and our overall compensation philosophy, which emphasizes performance-based
compensation. The table below sets forth the 2008 target annual incentive opportunities as a
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