Logitech 2015 Annual Report Download - page 39

Agenda Proposals and Explanations
29 | – Proxy Statement
2015 Annual General Meeting Invitation, Proxy Statement
of PSUs, RSUs or other financial instruments granted
as equity incentive awards is calculated at market
value at the time of their grant. The proposed maximum
amount of the equity incentive awards assumes full
achievement of all performance goals and full vesting
of all time-based equity incentive awards.
• Other compensation of a maximum of USD 550,000.
Other compensation includes car allowances, tax
preparation services, 401(k) savings plan matching
contributions, employee stock purchase plan
discounts, premium for group term life insurance,
relocation expenses, travel costs in lieu of relocation
allowances, defined benefit pension plan employment
contributions and other awards. The Company
generally does not provide all of these components of
other compensation to all executives each year, but
the proposed maximum amount of compensation has
been formulated to provide flexibility to cover these
compensation components as applicable.
The actual pay-out to the members of the Group
Management Team for fiscal year 2017 will be disclosed
in the Compensation Report in the Invitation and Proxy
Statement for the 2017 Annual General Meeting.
In the event of a negative vote on this proposal by
shareholders, the Board of Directors will submit an
alternative proposal to the same or a subsequent
general meeting.
Voting Requirement to Approve Proposal
The affirmative “FOR” vote of a majority of the votes cast
in person or by proxy at the Annual General Meeting, not
counting abstentions.
Recommendation
The Board of Directors recommends a vote “FOR” the
approval of the maximum aggregate amount of the
compensation of the Group Management Team of USD
19,200,000 for fiscal year 2017, subject to adjustment as
set forth in the proposal.