Apple 1995 Annual Report Download - page 52

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(EXHIBIT 10.A.7)
FY95
SENIOR/EXECUTIVE INCENTIVE BONUS PLAN
PURPOSE:
The purpose of the Senior/Executive Incentive Bonus Plan "The Plan" is to focus the efforts of Senior Management towards predetermined,
specific goals and objectives which are of critical importance to the success of the organization.
The program specifically:
-encourages participants to achieve outstanding results toward company and individual objectives,
-strengthens the ability of the organization to attract and retain high caliber, key management personnel, and
-provides a leveraged compensation program that is based on performance towards objectives, with superior performance resulting in
aggressive compensation levels.
ELIGIBILITY:
- Chief Executive Officer - Vice-Presidents
- Division Presidents - Senior Directors
- Senior Vice Presidents - Directors
Full year participants in the Senior/Executive Incentive Bonus Plan may not participate in other bonus plans without the approval of the Chief
Executive Officer. However, nominal gift certificates and awards are acceptable (less than $500).
INCENTIVE BONUS GUIDELINES:
Bonus targets for eligible participants in the Senior/Executive Incentive Bonus Plan will be set individually and expressed as a percent of base
salary as of 10/1/94 according to salary grade. If an individual's salary grade changes during the year, the bonus target may be adjusted on a
prorated basis (see Administrative Procedures).
PERFORMANCE MEASUREMENTS:
There are two main components used to determine the bonus payout amounts after the end of the applicable biannual payout period (see Bonus
Payouts):
the Financial Performance Measurements and the Individual Performance Measurements . Details of the various performance measurements
are described below.
Financial Performance
The Financial Performance Measurements consist of Units, Net Inventory Turns, Return on Capital Employed (ROCE), Operating Margin and
Day Sales Outstanding. All Plan participants will be measured on either Corporate or Division Business Measurements as described in the
Weighting of Performance Measurements section.
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