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Exhibit 10.4
Trimble Navigation Limited Annual
Management Incentive Plan Description
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“Company” means Trimble Navigation
Limited, a California corporation.
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“Board of
Directors” means the Board of Directors of the
Company.
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“Operating Income” means (i) with
respect to a division, operating income for that division and (ii)
with respect to the Company, operating income for the Company
adjusted for amortization of intangibles, restructuring and
infrequent charges.
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“Operating Margin” means Operating
Income divided by revenue.
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“Plan” means this Trimble Navigation
Limited Annual Management Incentive Plan.
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Participants: The CEO, all of the
Vice Presidents of the Company and a number of senior-level
managers and individual contributors as nominated by their
respective Vice Presidents and approved by the CEO of the
Company.
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Payments earned
under the Plan depend upon the Company’s quarterly and annual
Operating Margin, and/or Operating Income, with certain goals and
minimum thresholds for revenue and Operating Income as a percentage
of revenue, as such goals and thresholds are established by the CEO
and Board of
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