Vistaprint 2014 Annual Report Download - page 130

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26
Acxiom Corporation DST Systems Inc. Logitech International SA TIBCO Software Inc.
AOL Inc. Genpact Ltd. Open Text Corporation Total Systems Services Inc.
Cadence Design Systems
Inc. Global Payments Inc. PTC Inc. ValueClick Inc.
Compuware Corporation IAC/InterActiveCorp. Sapient Corporation VeriFone Systems, Inc.
CoreLogic, Inc.
Jack Henry & Associates
Inc. Sohu.com Inc.
Zebra Technologies
Corporation
Deluxe Corporation
Lender Processing
Services Inc. Solera Holdings Inc.
The Compensation Committee engages independent compensation consultants and manages the relationship with
these firms. During fiscal 2014, Towers Watson, the Committee's compensation consultant, provided the following
services to Vistaprint and the Compensation Committee:
• Competitive analysis and recommendations to the Compensation Committee with respect to the compensation
of our executive officers;
• Competitive analysis and recommendations to our Compensation Committee and Chief Executive Officer with
respect to the compensation of some of our employees who are not executive officers;
• Detailed equity utilization analysis comparing the number of shares that Vistaprint grants per year pursuant
to equity compensation awards and the number of shares subject to outstanding equity compensation awards
and available for grant under our equity compensation plans with both our primary and aspirational peer groups,
to assist the Compensation Committee in setting our practices of granting equity to our employees;
• Consulting on a job leveling solution, including providing Vistaprint with job evaluation technology and
supporting tools; and
• The development of a competitive core benefit plan offering for our London office.
During fiscal 2014, Vistaprint paid Towers Watson approximately $156,135 in fees for services relating to the
compensation of our executives and approximately $357,900 for the other services described above. The
Compensation Committee took these fees into account when assessing Towers Watson's independence and
determined that Towers Watson was independent during fiscal 2014.
Compensation Components for Executives
The principal elements of our compensation program for our executive officers are the following:
• Base salary
• Annual cash incentive awards, which reward executives based on Vistaprint’s achievement of financial
performance goals for the current fiscal year
• Long-term incentive awards, which may include long-term cash incentives, share options, and restricted share
units, which reward executives based on Vistaprint’s achievement of longer term financial objectives and the
creation of value for our shareholders as reflected in our share price
• Standard health and welfare benefits that are applicable to all of our employees in each executive’s geographic
location
• Expatriate benefits for our executives who are assigned to work in geographic locations outside of their home
countries
In addition, we have severance and change in control arrangements with our executives.
Under our pay-for-performance philosophy, the compensation of our employees at higher levels in the organization
is generally more heavily weighted towards variable compensation based on our performance, and base salary
generally accounts for a smaller portion of these employees’ total compensation packages. Conversely, employees
at lower levels in the organization generally receive more of their compensation in the form of base salary and less in