Variable Bonus (VB) for First Half Fiscal Year 2016 (1HFY16)
Dear WD Employee,
The Senior Leadership team is pleased to inform you that our performance in the first half of fiscal year 2016 (1HFY16, from July through December) generated a Variable Bonus (VB) of 0.55 months. The VB payout will be reflected in the February 22 pay cycle.
Eligibility
All direct labor (DL)/indirect labor (IDL) and non-exempt (NE) employees hired before December 1, 2015 are eligible to receive the VB for this cycle. To receive payment, individuals must be employed at WD on the VB payout date.
Variable Bonus Program Overview
Performance period for (FY2016)
The VB consists of two performance cycles:
• 1st half: performance period from July 1 to December 31
• 2nd half: performance period from January 1 to June 30
VB Funding
The VB funding is determined by overall company absolute and relative performance on financial and operating goals.
Target Opportunity (payout)
The annual target payout is one month’s salary (or 0.50 month for each six -month performance period). The actual payout is based on company performance and corresponding level of funding, as well as individual performance.
Payout Calculation
Payout is based on the average six-month salary (average of salary at the end of each month for VB period) during the performance period. Employees hired after the start of the VB period will receive a prorated payment based on the actual start date.
Payout Date
February 22, 2016
Congratulations, and thank you so much for your hard work, diligence and accomplishments throughout this past VB period. We look forward to working successfully with you into the future and appreciate your help in achieving WD’s business objectives.