Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
(e) On December 9, 2008, the Board of Directors (the Board) of NYFIX, Inc. (the
Company) approved an amendment to the Company's 2008 Annual Incentive Plan (the
AIP Plan) to permit annual incentive awards for all Company employees in the
form of cash and or equity, in such proportion as determined at the sole
discretion of the Compensation Committee of the Board. Prior to this amendment,
the AIP Plan provided for cash awards only.
The 2008 AIP is in effect for the period from January 1, 2008 through December
31, 2008. Eligible employees have individual bonus targets, adjustable based
upon the Company's overall financial performance against annually approved
revenue and operating EBITDA targets. Achievement of key company,
functional-divisional and individual performance objectives will determine the
individual bonus payouts.
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