iRobot 2013 Annual Report Download - page 30

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24
The following table summarizes the performance measures, associated weightings and goals for each of the named executive
officers. As discussed previously, the payout opportunity ranges from 35% of the target incentive opportunity for achieving
threshold level of performance to 190% of the target incentive opportunity for achieving maximum level of performance.
Performance Measure Weighting
Performance Goal
Threshold Target Maximum
Adjusted EBITDA, excluding cash
incentive compensation expense 70% $53.2 million $59.1 million $76.8 million
Revenue 30% $391.5 million $489.4 million $636.2 million
The compensation committee chose this mix of financial targets for cash incentive compensation because it believes that
executive officers should be focused on a small set of critical, team-based financial and operating metrics that reinforce the
executive's role and impact. Also, the compensation committee established a hurdle where the available total incentive
compensation payout for the entire employee base - including the named executive officers - would be reduced on a dollar-for-
dollar basis if Adjusted EBITDA, excluding cash incentive compensation expense, fell below $53.2 million.
The following table shows our achievement against the various metrics used for calculating the 2013 cash incentive
compensation for our named executive officers:
Metric Minimum Target
(100%) Maximum 2013 Actual
Performance
Actual
Percentage
Earned (as %
of target)
$ in millions
Adjusted EBITDA, excluding cash
incentive compensation expense $53.2 $59.1 $76.8 $75.3 182%
Company Revenue $391.5 $489.4 $636.2 $487.4 98%
Based on our achievement of the performance metrics set forth above, the following cash awards were made to the named
executive officers for performance in fiscal 2013 pursuant to our Senior Executive Incentive Compensation Plan:
Incentive Bonus Award
Original
Target Incentive
Opportunity Achievement ICP Earned
Colin M. Angle $625,000 157% $981,250
Alison Dean $195,000 157% $306,150
Glen D. Weinstein $201,000 157% $315,570
Russell J. Campanello $195,000 157% $306,150
Paolo Pirjanian $195,000 157% $306,150
John J. Leahy(1) $— —% $—
Jeffrey A. Beck (2) $322,500 157% $506,325
(1) Mr. Leahy retired from the Company on April 5, 2013 and therefore was ineligible to receive a bonus under the
Senior Executive Incentive Compensation Plan for 2013.
(2) Mr. Beck's ICP Earned represents a cash payment, pursuant to a Separation Agreement dated November 25, 2013
between the Company and Mr. Beck, in an amount equal to what he would have received as a bonus for fiscal
2013 under the Company's Senior Executive Incentive Compensation Plan had his employment continued until
the bonus payments were made to the other named executive officers under the Senior Executive Incentive
Compensation Plan.
No discretionary bonuses were paid with respect to fiscal 2013.