Search the web
Welcome, Guest
[Sign Out, My Account]
EDGAR_Online

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
FEIC > SEC Filings for FEIC > Form 8-K on 13-Dec-2013All Recent SEC Filings

Show all filings for FEI CO

Form 8-K for FEI CO


13-Dec-2013

Change in Directors or Principal Officers


Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

2014 Management Variable Compensation Plan On December 13, 2013, the Compensation Committee (the "Committee") of the Board of Directors (the "Board") of FEI Company (the "Company") determined the metrics for payout to the Company's named executive officers ("executive officers") and other members of the senior management under the Company's 2014 Management Variable Compensation Plan (the "MVP"). A summary is set forth below:

Funding of the Total MVP Pool

The total pool for payout to all participants under the MVP, including executive officers, is funded only if the Company's 2014 operating income (modified to exclude the financial impact of certain costs associated with restructuring, impact of mergers and acquisitions, legal settlements and other infrequently occurring items) (the "modified operating income") meets the minimum requirements under the 2014 Board-approved budget.

The total pool is limited to 15% of the modified operating income.

Payout to Individual Executive Officers

Each executive officer has a targeted individual incentive amount which is expressed as a percentage of his base salary. Payout to each executive officer may vary up or down against this targeted amount based on each of the following metrics, measured independently. The percentage weight of each metric out of the total targeted individual incentive (100%) is shown in parenthetical.

- revenue growth (35%);

- gross margin improvement (30%);

- individual performance (20%); and

- cash cycle time improvement (15%).

No variable compensation is paid to an executive officer unless the following requirements are met:

- For payout on revenue growth, Company performance must exceed the minimum revenue threshold approved by the Committee;

- For payout on gross margin improvement, Company performance must exceed the minimum gross margin improvement threshold approved by the Committee;

- For payout on individual performance, Company performance must meet or exceed the minimum thresholds for both revenue growth and gross margin improvement and attainment of some portion of their management based ojectives; and

- For payout on cash cycle time improvement, Company performance must exceed the minimum cash cycle time improvement threshold approved by the Committee.

Each executive officer will receive a payout of 100% of his targeted incentive amount if the Company meets the 2014 Board-approved budget for revenue and gross margin, target improvement in cash cycle time and the executive officer meets his individual performance objectives.

Payout for each of the revenue growth and gross margin improvement metrics is accelerated for Company performance exceeding the 2014 Board-approved budget for revenue and gross margin, respectively. Payout for the cash cycle time improvement metric continues on a straight line basis for performance exceeding the metric.

Total payout to each executive officer is capped at 200% of his total targeted incentive amount.


  Add FEIC to Portfolio     Set Alert         Email to a Friend  
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for FEIC - All Recent SEC Filings
Copyright © 2014 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service
SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.