Vistaprint 2015 Annual Report Download - page 140

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28
problematic pay practice. Accordingly, our Compensation Committee decided that we would no longer include such
tax gross-up provisions in any executive retention agreements we enter into with new executives after August 1,
2012.
Compensation Committee Approach
In determining the competitiveness of our executive compensation program, our Compensation Committee takes
into account the analysis and recommendations of the Committee’s independent compensation consultant
(currently Towers Watson), data from the comparison peer group described below, published compensation survey
data, and detailed tally sheets summarizing our executive officers’ current and historical compensation.
Each year, our Compensation Committee works with Towers Watson to update its comparison peer group
consisting of publicly traded companies that have characteristics that are currently comparable to Cimpress or
comparable to where Cimpress expects to be in the near future. Through a multi-step process, the Committee
considers a robust number of companies for inclusion in our peer group, including the consideration of, among
other attributes, each company’s ownership structure, industry groupings (including Global Industry Classification
Standards), annual revenue, and other financial metrics, as well as comparable companies identified on the Dow
Jones and Institutional Shareholder Services lists. For the comparison peer group our Compensation Committee
used in determining our executive officers' fiscal 2015 compensation, the financial criteria included annual revenue
in the range of $1.1 billion to $3.0 billion and market capitalization between $1.5 billion and $4.0 billion. The
Compensation Committee also considered companies with high growth and in the same general industry as
Cimpress. For fiscal 2015, the peer group consisted of the 23 companies listed below. Because the Compensation
Committee determined the peer group in November 2013, before the beginning of our fiscal year 2015, the
Committee used the most recent information that was available at that time for each peer group company.