Exhibit 10.11

 

Iomega Compensation Committee Meeting

 

Exhibit A

May 20, 2003

 

Summary of 2003 IBP Plan Changes and Metrics

 

Features remaining from 2002 IBP Plan

 

  • Company must be profitable as a whole in the plan period for any bonus or
profit sharing to be paid out

 

  • Individuals’ targets not changing

 

  • Maximum payout still capped at 200%

 

Features changing in 2003 IBP plan

 

Feature

--------------------------------------------------------------------------------

  

2002 Plan

--------------------------------------------------------------------------------

  

2003 Plan

--------------------------------------------------------------------------------

Plan Period    Two six-month periods    12 month fiscal year
Operating Plan for Metrics    Board approved plan    Internal management stretch
plan Plan Metrics Based on    Revenue, PBIT, Breakthrough Objectives    Cash
Balance, EPS, BOD Discretion First payout occurs    80% payout upon achieving
80% of target    90% payout upon achieving 100% of target 100% payout occurs   
Upon achieving 100% of target    Must exceed target (level varies per metric)
Accelerators    Same slopes & accelerators per metric    Differing slopes and
accelerators per metric

 

2003 IBP Participation and Metric Weighting

 

     Participants

--------------------------------------------------------------------------------

       Heid, Zwarenstein,
Kampfer, Aguirre

--------------------------------------------------------------------------------

    All other Executives
and VP’s

--------------------------------------------------------------------------------

    Directors

--------------------------------------------------------------------------------

       2003 IBP Metric Proposal

--------------------------------------------------------------------------------

 

BOD Discretion

   100 %            

Year End Cash Balance

         70 %   70 %

Earnings Per Share

         30 %   30 %

 

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2003 IBP Metric – Year End Cash Balance

 

Year End Cash Balance – Weighting: 70% of IBP

--------------------------------------------------------------------------------

% of Cash Goal Achieved

--------------------------------------------------------------------------------

 

Bonus Payout

--------------------------------------------------------------------------------

100%

  90%

103%

  100%

107%

  120%

111%

  150%

115%

  200%

 

2003 IBP Metric – EPS

 

2003 EPS – Weighting: 30% of IBP

--------------------------------------------------------------------------------

% of EPS Achieved

--------------------------------------------------------------------------------

 

Bonus Payout

--------------------------------------------------------------------------------

100%

  90%

110%

  100%

130%

  120%

140%

  150%

150%

  200%

 

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