Bermuda
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98-0417483
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(State or other jurisdiction of
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(IRS Employer
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incorporation)
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Identification No.)
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Information to be included in the report
Name Title Base Salary Target Bonus Maximum Bonus
Robert Keane President/CEO $337,050 $252,788 $631,964
The foregoing compensation recommendatio ns were made effective retroactive to July 1, 2006, the beginning of the Registrant's 2007 fiscal year.
In addition, on August 4, 2006, the Registrant's board of directors approved, upon the recommendation of the Committee, the Registrant's Executive Officer Fiscal Year 2007 Bonus Plan (the "Bonus Plan"). An executive officer's bonus pursuant to the Bonus Plan is determined based solely upon the Registrant's performance against quarterly and annual revenue and earnings per share targets. A copy of the Bonus Plan is attached to this Current Report as Exhibit 10.1 and is incorporated herein by this reference.
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VistaPrint Limited
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Date: August 08, 2006
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By:
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/s/ Robert S. Keane
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Robert S. Keane
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Chief Executive Officer
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Exhibit No.
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Description
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EX-10.1
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Executive Officer Fiscal Year 2007 Bonus Plan.
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Executive Officer Fiscal Year 2007 Bonus Plan
VistaPrint Limited
July 1, 2006 to June 30, 2007
The Executive Officer Bonus Plan (the "Plan") will be reviewed annually and may be changed at any time by the Compensation Committee of the Board of Directors of VistaPrint Limited (the "Company"). The Company does not guarantee that a bonus plan will exist each year, or that bonuses will be paid in any given quarter or year. The Plan does not guarantee continued employment with the Company. The Plan is based on Company performance and the Company reserves the exclusive right to modify or terminate the Plan at its discretion at any time. For purposes of illustration and not limitation, the Company may modify its financial targets should it participate in a business combination.
I. Eligibility
Executive officers of the Company and its various subsidiaries, as designated by the Board of Directors of VistaPrint Limited, are eligible to participate in the Plan. The current executive officers and their target bonus compensation under the plan are set forth in Annex A hereto. Executive officers hired or designated during fiscal year 2007 are eligible for a prorated bonus based on eligible base salary earnings for the remainder of the quarter.
II. Participation Levels
All executive officers' incentive bonuses will be determined in accordance with the Plan. Eligible bonus will be based on a fixed target of a given dollar amount but may be less than, equal to, or greater than the target bonus based upon the Company's overall performance against its financial goals.
III. Company Goals: Revenue and Earnings Per Share (EPS)
Executive Officer bonuses shall be based solely upon the Company's performance against quarterly and annual revenue and earnings per share goals that have been determined by the Board of Directors of VistaPrint Limited. The EPS and the Revenue bonus goals and achievement against those goals are based on the worldwide earnings per share and worldwide revenues of VistaPrint Limited.
Revenue |
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Earnings Per Share |
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% of Target |
Bonus Multiplier |
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% of Target |
Bonus Multiplier |
< 89.99% |
0% |
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< 89.99% |
0% |
90% |
50% |
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90% |
25% |
100% |
100% |
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100% |
100% |
105% |
200% |
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> 115% |
200% |
> 110% |
300% |
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ANNEX A
Executive Officers and Target and Maximum Bonuses
Executive Officer |
Target Quarterly Bonus |
Target Annual Bonus |
Maximum Bonus |
Robert Keane (CEO) |
$63,197 |
$252,788 |
$631,964 |
Alexander Schowtka (COO) |
$27,500 |
$110,000 |
$274,997 |
Anne Drapeau (EVP Human Resources & Chief People Officer) |
$32,000 |
$128,000 |
$319,997 |
Janet Holian (CMO) |
$32,000 |
$128,000 |
$319,997 |
CFO |
$32,000 |
$128,000 |
$319,997 |