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| MA > SEC Filings for MA > Form 8-K on 28-Feb-2013 | All Recent SEC Filings |
28-Feb-2013
Change in Directors or Principal Officers
On February 25, 2013, the Human Resources and Compensation Committee of the Board of Directors (the "Compensation Committee") of MasterCard Incorporated (the "Company") approved performance targets for the year ending December 31, 2013 that will be used to determine the amounts of cash bonus awards that may be paid to the principal executive officer, principal financial officer, and the other named executive officers disclosed in the Company's most recent proxy statement filed with the Securities and Exchange Commission (on April 24, 2012) under its Senior Executive Annual Incentive Compensation Plan ("SEAICP"). The funding of the 2013 SEAICP bonus pool will be based upon the Company's achievement of predetermined net income and net revenue targets using a weighting of two-thirds for actual performance achieved against the net income target and one-third for actual performance achieved against the net revenue target. The Compensation Committee may decide to reduce the total amount awarded under the SEAICP at its discretion. The Compensation Committee set the individual 2013 annual cash incentive awards (as a percentage of base salary) under the SEAICP for the Company's named executive officers as follows:
Performance Level Achieved
Name Threshold Target Maximum
Ajay Banga 75 % 150 % 375 %
Martina Hund-Mejean 50 % 100 % 250 %
Chris A. McWilton 57.5 % 115 % 287.5 %
Gary J. Flood 57.5 % 115 % 287.5 %
Ann Cairns 57.5 % 115 % 287.5 %
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Performance below threshold would result in no cash bonus payout.
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