Visa 2008 Annual Report Download - page 221

Table of Contents
Executive Compensation and Director Compensation Tables
Summary Compensation Table
The following table sets forth the total compensation earned for services rendered during fiscal 2008, 2007 and 2006 by the named executive officers of
Visa Inc.: (1) the current principal executive officer and principal financial officer and (2) the three other most highly compensated executive officers during
fiscal 2008.
(a) (b) (c) (d) (e) (f) (g) (h) (i) (j)
Name and Principal
Position Year
Salary
($)
Bonus(5)
($)
Stock
Awards
($)(6)
Option
Awards
($)(7)
Non-Equity
Incentive
Plan
Compensation(8)
($)
Change in
Pension Value
and
Nonqualified
Deferred
Compensation
Earnings(9) ($)
All
Other
Compensation(10)
($)
Total
($)
Joseph W. Saunders(1)
Chairman & Chief Executive Officer 2008 950,009 1,900,000 336,684 3,274,280 2,768,241 670,988 210,281 10,110,484
2007 804,519 10,230,514 — — — 41,113 71,171 11,147,317
2006 — — — — — — — —
Byron H. Pollitt(2)
Chief Financial Officer 2008 650,006 955,000 — 875,307 845,000 56,793 43,788 3,425,894
2007 27,083 250,000 — — — — — 277,083
2006 — — — — — — — —
John C. (Hans) Morris(3)
President 2008 750,007 787,500 — 1,615,946 1,362,500 85,383 278,216 4,879,552
2007 145,192 3,343,750 — — — 5,429 6,837 3,501,208
2006 — — — — — — — —
John M. Partridge
Chief Operating Officer 2008 750,029 787,500 511,904 1,454,355 1,236,951 1,886,912 149,763 6,777,413
2007 635,411 1,170,183 — — 3,169,989 475,512 129,571 5,580,666
2006 625,025 1,076,320 — — 2,576,690 533,214 117,101 4,928,350
Joshua R. Floum(4)
General Counsel and Corporate Secretary 2008 555,022 388,500 316,068 646,379 242,459 86,854 57,506 2,292,788
2007 532,104 445,918 — — 2,132,372 84,029 72,922 3,267,345
2006 — — — — — — — —
(1) Mr. Saunders joined Visa Inc. in February 2007 and therefore earned no compensation during fiscal 2006.
(2) Mr. Pollitt joined Visa Inc. in September 2007 and therefore earned no compensation during fiscal 2006.
(3) Mr. Morris joined Visa Inc. in July 2007 and therefore earned no compensation during fiscal 2006.
(4) Mr. Floum became a named executive officer of Visa Inc. in fiscal 2007.
(5) The amounts in column (d) for fiscal 2008 for Mr. Saunders, Mr. Pollitt, Mr. Morris, Mr. Partridge and Mr. Floum reflect the cash awards earned under the Visa Annual Incentive Plan
based on the compensation committee's assessment of the success of the initial public offering. The amount for Mr. Pollitt includes an additional discretionary cash bonus of $500,000.
(6) The amounts in column (e) reflect the dollar amount recognized for financial statement reporting purposes for the 2008 fiscal year, in accordance with FAS 123(R) of the stock awards
and therefore includes amounts from awards granted in 2008. No awards were granted prior to 2008. Assumptions used in the calculation of these amounts are included in this Form 10-
K . These stock awards were made in 2008 pursuant to the 2007 special bonus plan established by the Company's predecessor entities.
(7) The amounts in column (f) reflect the dollar amount recognized for financial statement reporting purposes for the 2008 fiscal year, in accordance with FAS 123(R) of the stock options
and therefore includes amounts from awards granted in 2008. No options were granted prior to 2008. Assumptions used in the calculation of these amounts are included in this Form 10-
K .
(8) The amounts in column (g) reflect cash awards earned under the Visa Annual Incentive Plan based on actual performance measured against the corporate objective established for net
income. Under the plan, Mr. Saunders received $1,900,000, Mr. Pollitt received $455,000, Mr. Morris received $787,500, Mr. Partridge received $787,500 and Mr. Floum received
$388,500. The amounts in column (g) also reflect cash awards earned under the Visa Annual Incentive Plan based on actual performance against each executive's individual goals. Under
this component, Mr. Saunders received $712,500, Mr. Pollitt received $390,000, Mr. Morris received $575,000, Mr. Partridge received $675,000 and Mr. Floum received $273,000. The
amounts in column (g) also reflect the change in market value of the unvested cash-based long-term incentive plan awards that are invested in an investment account until the end of the
three-year plan cycle on September 30, 2009. The changes in market value were: Mr. Saunders—$155,741, Mr. Partridge—($225,549) and Mr. Floum—($419,041).
(9) The amounts in column (h) reflect the actuarial increase in the present value of benefits under all pension plans. These amounts were determined using interest rate and mortality rate
assumptions consistent with those used in Note 12—Pension, Postretirement and Other Benefits to the Visa Inc. fiscal 2008 consolidated financial statements, which are included
elsewhere in this Form 10-K. There are no above market earnings on non-qualified deferred compensation.
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