Apple 1995 Annual Report Download - page 59

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The overall assessment of the individual performance segment is calculated by multiplying the targeted dollar amount by the % achievement
for each category as shown in the example below:
Individual Performance segment = $8,500 Weighting is calculated as shown below for each of the performance areas Overall individual
performance weighting of 103% = a payout of $8,755
The percentage award achieved under the Individual Performance Measurement is then applied to the portion of the Target Bonus, i.e. 40%, to
determine the actual Individual Performance portion of the award.
The target will be multiplied by a percentage up to a maximum of 150% depending on the supervising manager's initial overall assessment of
the individual's performance against objectives. Ratings of all participants will then be reviewed at higher levels of management within the
division to ensure equity. This information will then be reviewed by the Board of Directors and depending on overall financial performance,
individual percentage payouts may then be adjusted.
If the Individual Performance portion of the bonus is determined to be zero, no Financial portion of the bonus will be payable. Exceptions to no
payment for Individual performance below 80%, and/or paying the Financial portion of the bonus when the Individual Performance is below
80%, must be approved by the Division President or Sr. Vice President and the Division Human Resources Manager. (Note: Also see the
Corrective Action/Disciplinary Situations section on page 11.)
Bonus Payout:
Senior/Executive Incentive Bonus Plan payouts (less deductions and withholdings) will be paid biannually. The first payment will be based on
"1st Half" (Q1 and Q2) Financial Performance results and will be paid during May/June after the close of Q2. The second payment will be
based on "2nd Half" (Q3 and Q4) Financial Performance results as well as Individual Performance results for the entire fiscal year (Q1 - Q4)
and will be paid during November/December following the end of the plan year. Both awards are paid out of the Senior/Executive Bonus Pool
Fund.
There will be no Senior/Executive Incentive Bonus Plan payout on Financial or Individual performance if there is no Corporate operating profit
or a Corporate operating loss. In this case, the CEO has the option to recommend appropriate individual awards to the Board of Directors.
56
Individual
Weighting Target x % Achievement =Payout
Market Share Goals 40% $3,400 85% $2,890
Customer Satisfaction 30% $2,550 130% $3,315
Employee Alignment 30% $2,550 100% $2,550
Overall 100% $8,500 103% $8,755