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Technology Stocks : All About Sun Microsystems
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To: cfimx who wrote (62553)1/7/2005 11:42:24 AM
From: cfimx  Read Replies (1) of 64865
 
"For fiscal 2004, the Bonus Plan was based on the achievement of profit before tax (PBT). The PBT goal was derived from Sun’s internal projections and business plan. Due to economic challenges which Sun continued to experience during the last fiscal year, PBT was below the goal set for fiscal 2004. As such, the bonus plan funding was reduced to 25% of the original plan. Accordingly, for fiscal 2004, actual bonus payouts as determined by PBT performance for executive officers, other than Mr. McNealy, were 25% of target. The Leadership Development and Compensation Committee determined that the payout of the bonus for fiscal 2004 to Mr. McNealy will be contingent upon the Company achieving three consecutive quarters of operating profitability and year over year revenue growth on or by the end of fiscal 2007. If this performance criteria is met, Mr. McNealy will receive a bonus payment of $625,000, which is 25% of target."
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