Orthofix International N.V. – Annual Incentive Program (May 7th, 2009)
The Company does not have a formal, written plan with respect to its annual incentive program applicable to all executive officers. The below summarizes the principal aspects of the Company's annual incentive program, which is modified from time to time upon approval by the Compensation Committee. Each year the Company does notify, in writing, those executive officers selected to participate in the annual incentive program and, if awards are earned, the amount of annual incentive program compensation earning. Samples of those letters also appear below.
Orthofix International N.V. – ANNUAL INCENTIVE PROGRAM the Company Does Not Have a Formal, Written Plan With Respect to Its Annual Incentive Program Applicable to All Executive Officers. The Below Summarizes the Principal Aspects of the Company's Annual Incentive Program. Each Year the Company Does Notify, in Writing, Those Executive Officers Selected to Participate in the Annual Incentive Program And, if Awards Are Earned, the Amount of Annual Incentive Program Compensation Earning. Samples of Those Letters Also Appear Below. (April 30th, 2007)
The Compensation Committee (the "Committee") believes that a significant portion of the compensation for each executive officer should be in the form of annual performance-based cash bonuses. Short-term incentives like our annual incentive program tie executive compensation to our immediate financial performance as well as, to a certain extent, individual performance. Each executive officer generally participates in our annual incentive program as it is our primary means of providing for an annual cash bonus. The annual incentive program is based on goals determined by the Committee. Outside of the annual incentive program, the Committee has and does exercise its discretion to grant bonuses for performance or for other circumstances in any year.