CompUSA 2010 Annual Report Download - page 36

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and bonus accounted for 45% of Mr. Leeds total cash compensation for 2010. Mr. Leeds salary for 2011 is set at
$592,200. See the discussion of our 2010 Bonus Plan and 2011 Bonus Plan regarding Mr. Leeds non-equity
incentive awards for 2010 and 2011.
Bruce Leeds
Bruce Leeds has no employment agreement and is an “at will” employee. Base salary accounted for 60%
and bonus accounted for 40% of Mr. Leeds total cash compensation for 2010. Mr. Leeds salary for 2011 is set at
$493,500. See the discussion of our 2010 Bonus Plan and 2011 Bonus Plan regarding Mr. Leeds non-equity
incentive awards for 2010 and 2011.
Robert Leeds
Robert Leeds has no employment agreement and is an “at will” employee. Base salary accounted for 60%
and bonus accounted for 40% of Mr. Leeds total cash compensation for 2010. Mr. Leeds salary for 2011 is set at
$493,500. See the discussion of our 2010 Bonus Plan and 2011 Bonus Plan regarding Mr. Leeds non-equity
incentive awards for 2010 and 2011.
Lawrence Reinhold
The Company entered into an employment agreement with Mr. Reinhold on January 17, 2007. The
agreement provides for a minimum base salary of $400,000 (which may be increased at the discretion of the
Company) and a bonus (which the agreement states is expected to be at least equal to 50% of the base salary)
assuming Mr. Reinhold meets certain performance objectives (including the Company’ s financial performance
objectives) established for him by the Company. He is entitled to receive a car allowance or a Company-leased car.
Mr. Reinhold’ s bonus for 2010 was determined as described above under the heading 2010 Named
Executive Officer Cash Bonus Plan. Mr. Reinhold received a grant of equity compensation in 2009 in the form of
stock options. The decision by the Compensation Committee to award Mr. Reinhold stock options was based on Mr.
Reinhold’ s significant accomplishments in 2009 as well as a desire to further align his interests with those of the
Company’ s stockholders. Base salary accounted for 57% and bonus accounted for 43% of Mr. Reinhold’ s total cash
compensation for 2010. In 2010, Mr. Reinhold received a grant of 175,000 restricted stock units under the 2010
Long Term Incentive Plan. The restricted stock units vest in ten equal annual installments of 17,500 units each,
beginning on May 15, 2011. As in 2009, the Compensation Committee decided to make this equity award in
recognition of Mr. Reinhold’ s accomplishments in 2010 and in order to further align his interests with those of our
stockholders. His salary for 2011 is set at $487,200.
Compensation that may become payable following the termination of his employment or a change in
control of the company, and other terms of the employment agreement related to such events, are discussed below
under “—Potential Payments Upon Termination or Change in Control.”
Gilbert Fiorentino5
On October 12, 2004, the Company entered into an employment agreement with Gilbert Fiorentino. The
agreement was effective as of June 1, 2004 and expires on December 31, 2013 unless terminated sooner under the
terms of the agreement.
Mr. Fiorentino’ s compensation consists of a base salary at the initial annual rate of $400,000 (which is
increased by five percent per year subject to certain Company earnings requirements) and a performance bonus of
5 As previously reported in the Company’ s Form 8-K filed on April 20, 2011, on April 18, 2011 the Company notified Mr.
Fiorentino that it intends to terminate his employment pursuant to the terms of his employment agreement. As required by his
agreement, the Company has scheduled a meeting of its Executive Committee for May 3, 2011 to address this matter. Following
that meeting, the Company will make its final determination as to his employment. Mr. Fiorentino has been placed on
administrative leave pending the outcome of the meeting. See “Potential Payments Upon Termination or Change of Control-
Gilbert Fiorentino” at page 40 for additional information.