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  1. Technology
March 19, 1996

GERSTNER ASKS FOR PAYMENT BY RESULTS

By CBR Staff Writer

Lou Gerstner clearly believes that IBM Corp can continue the high-wire accountancy act that has thus far enabled it to isolate from its reported figures just how manifold and widespread problems it faces in so many parts of its business. The chairman and chief executive asked the board to lower his salary by $500,000 and raise his potential bonus if the shares continue to rise. He will get a salary of $1.5m this year, down from $2m in 1995, but the minimum target for his bonus has been increased to $2m from $1.5m. The minimum target for a long-term performance incentive of cash and shares has been raised to $1.5m from $500,000 – and he can qualify for up to 50% more than the minimum payment, giving him the potential to earn $2.25m under the long- term incentive program this year where the maximum in this category was $750,000 last.

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