Bed, Bath and Beyond 2009 Annual Report Download - page 58

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BED BATH & BEYOND PROXY STATEMENT
56
฀ ฀ ฀ ฀ ฀ Senior฀Status฀ ฀ ฀ ฀ Deferred฀ ฀ Split-Dollar
Cash Salary Option Restricted Stock
Severance Continuation฀(3)฀ Acceleration (4) Acceleration (4) ฀(6)฀ ฀(8)
Warren Eisenberg (9)
Termination Without Cause/
Constructive Termination (1) (2) $ 373,699 $ 5,500,000 $ — $ 7,989,994
Change in Control (No Termination) $ — $ — $ — $ —
Change in Control + Termination (1) $ 373,699 $ 5,500,000 $ — $ 7,989,994
Change in Control + Voluntary
Termination (10) $ 3,300,000 $ — $ — $ —
Leonard Feinstein (9)
Termination Without Cause/
Constructive Termination (1) (2) $ 373,699 $ 5,500,000 $ — $ 7,989,994
Change in Control (No Termination) $ — $ — $ — $ —
Change in Control + Termination (1) $ 373,699 $ 5,500,000 $ — $ 7,989,994
Change in Control + Voluntary
Termination(10) $ 3,300,000 $ — $ — $ —
Steven฀H.฀Temares฀(11)
Termination Without Cause(10) $ 4,500,000 $ — $ 7,020,354 $ 10,598,192
Voluntary Termination(12) $ 1,500,000 $ — $ — $ —
Change in Control (No Termination) $ — $ — $ — $ —
Change in Control + Termination (10) $ 4,500,000 $ — $ 7,020,354 $ 10,598,192
Arthur Stark (13)
Termination Without Cause(10) $ 3,165,000 $ — $ 1,149,406 $ 4,794,387
Voluntary Termination(12) $ 1,055,000 $ — $ — $ —
Change in Control (No Termination) $ — $ — $ — $ —
Change in Control + Termination (10) $ 3,165,000 $ — $ 1,149,406 $ 4,794,387
Eugene฀A.฀Castagna฀(14)
Termination Without Cause(12) $ 840,000 $ — $ 1,149,406 $ 3,728,048
Voluntary Termination(12) $ 840,000 $ — $ — $ —
Change in Control (No Termination) $ — $ — $ — $ —
Change in Control + Termination(12) $ 840,000 $ — $ 1,149,406 $ 3,728,048
(1) Cash severance represents current salary continuation through June 30, 2010.
(2) In the event of a termination of employment due to death or disability, each of Messrs. Eisenberg and Feinstein (or their respective
estates) will receive the same payments as if there was a “Termination Without Cause/Constructive Termination”, except that neither
Mr. Eisenberg nor Mr. Feinstein (nor their respective estates) will receive either “Senior Status Salary Continuation” or “Benefit
Continuation” payments.
(3) Represents 50% of current salary payable for 10 years during the Senior Status Period.
(4) Represents the value of unvested outstanding stock options and restricted stock that would accelerate and vest on a termination
occurring on February 27, 2010. In the case of stock options, the value is calculated by multiplying the number of shares underlying
each accelerated unvested stock option by the difference between the Per Share Closing Price and the per share exercise price.
In the case of restricted stock, the value is calculated by multiplying the number of shares of restricted stock that accelerate and vest
by the Per Share Closing Price.
(5) Represents the estimated present value of continued health and welfare benefits and other perquisites for the life of the executive
and his spouse.
(6) Reflects executives’ vested account balances as of February 27, 2010.
(7) For Messrs. Eisenberg and Feinstein, represents the estimated present value of lifetime supplemental pension payments, commencing
six months following the conclusion of the Senior Status Period, except in the case of a voluntary termination following a change in
control, when such payments would commence after the cash severance has been paid. For Mr. Temares, present value will be paid
out six months following (1) termination without cause or (2) any termination (including voluntary termination) following a change
in control.