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Non-Tech : Tyco International Limited (TYC)
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To: shoe who wrote (3628)1/29/2003 11:57:20 AM
From: Howard Salwen  Read Replies (2) of 3770
 
Compensation is made up of a number of components these days. First there is the salary per year. This is a fixed and known amount.

Next there is bonus. Sometimes the bonus is based on subjective evaluation of the achievement by the executive of certain predefined objectives for the year which are established by the Comp Committee and/or very senior executives. Alternatively, some Comp Committees set up an objective bonus scheme in which bonuses per executive employee are determined by fomulas based on the overall achievement of objectives for the corporation as a whole.

In addition, executive may receive stock option grants which keep on vesting. this is call "greening".

Finally, an executive may be rewarded by promotion within the corporation.

So, the bonus plan may have been set up 18 months ago. And, bonuses are part of the compensation scheme that ensures the retention of competent management. Most of these guys are honest and hard working...
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