GNC 2009 Annual Report Download - page 157
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Table of Contents
Michael Locke
Termination w/o
Cause or for Good
Termination w/o Reason within 6
Cause or for Good Months after a Voluntary Death or
Reason Change in Control Termination Disability
Benefit ($) ($) ($) ($)
Base Salary Continuation — 540,800 — —
Prorated Annual Incentive Compensation 171,339 171,339 — 171,339
Health & Welfare Benefits — 17,799 — —
Accelerated Vesting of Stock Options — — — —
Payment Reduction — — — —
Net Value 171,339 729,938 — 171,339
J. Kenneth Fox
Termination w/o
Cause or for Good
Termination w/o Reason within 6
Cause or for Good Months after a Voluntary Death or
Reason Change in Control Termination Disability
Benefit ($) ($) ($) ($)
Base Salary Continuation — — — —
Prorated Annual Incentive Compensation 133,079 133,079 133,079 —
Health & Welfare Benefits — — — —
Accelerated Vesting of Stock Options — — — —
Payment Reduction — — — —
Net Value 133,079 133,079 133,079 —
As discussed above, we are not party to an employment agreement with Mr. Fox. In the event of a change in control of the Company, the
2007 Stock Plan provides that unvested stock options generally may be fully vested, cancelled for fair value or substituted for awards that
substantially preserve the applicable terms of the stock options. We have assumed for purposes of the table that upon a change in control of
the Company, Mr. Fox's unvested stock options would be substituted for awards that substantially preserve the applicable terms of the stock
options. In the event that in the exercise of discretion by the Compensation Committee, Mr. Fox's unvested stock options would have become
vested in connection with a change in control on December 31, 2008, the value of his vested options as of such would have been $133,079.
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