Kodak 2006 Annual Report Download - page 227

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Change-in-Control Severance Payments Table(1)
The table below estimates the incremental amounts payable upon a termination of employment by the Company in connection with a change-in-
control, as if the Named Executive Offi cers’ employment was terminated as of December 31, 2006 using the closing price of our common stock as of
December 29, 2006, the last trading day in 2006.
A. M. F. S. R. H. J. T. P. J. M. J.
Perez Sklarsky Brust Langley Faraci Hellyar
Cash Severance
(2) $ 8,415,000 $ 3,150,000 $ 3,859,680 $ 2,430,000 $ 2,527,200 $ 2,381,400
Additional Severance 0 0 0 0 0 680,000 (9)
Payment
Intrinsic Value of Stock Options (3) 94,504 0 12,601 14,659 34,409 11,725
Restricted Stock (4) 3,483,000 1,290,000 696,600 0 258,000 387,000
Leadership Stock (5) 822,375 0 129,645 132,225 132,225 105,780
EPSP Award (6) 781,256 0 123,163 125,614 125,614 100,491
Benefi ts/Perquisites (7) 8,356 8,356 8,356 8,356 8,356 8,356
Pension (8) 301,209 213,681 0 314,992 957,021 1,505,147
Excise Tax Gross-Up 5,599,988 2,059,249 0 1,445,867 1,941,099 2,559,078
Total $ 19,505,688 $ 6,721,286 $ 4,830,045 $ 4,471,713 $ 5,983,924 $ 7,738,977
(1) The values in this table: 1) refl ect incremental payments associated with a termination in connection with a change-in-control; 2) assumes a
stock price of $25.80 (except where otherwise noted); and 3) includes all outstanding grants through the assumed change-in-control/termination
date of December 31, 2006.
(2) The cash severance amounts disclosed above were calculated for each Named Executive Offi cer by multiplying the Named Executive Offi cer’s
target cash compensation by 3.
(3) The values in this row represent the intrinsic value of unvested stock options that would accelerate in the event of a termination following a
change-in-control, based on a stock price of $25.80, the closing price of Kodak stock as of December 29, 2006.
(4) The values in this row report the value of unvested shares of restricted stock that would automatically vest upon a termination subsequent to a
change-in-control.
(5) The values in this row refl ect 50% of the target allocation for the 2006-2007 Leadership Stock performance cycle and also refl ect 0% earnout
for the 2005-2006 Leadership Stock award.
(6) The values in this row refl ect a 95% payout from the 2006 EPSP.
(7) All Named Executive Offi cers would be entitled to $8,356 in perquisites, which include one year of continued medical, dental and life insurance
benefi ts.
(8) The amounts included in this row represent the incremental value of pension benefi ts to which the Named Executive Offi cers would have been
entitled.
(9) If Ms. Hellyar is terminated prior to June 1, 2007 as a result of disability or by the Company for any reason other than cause without offering
comparable employment, she will be eligible to receive a payment of $680,000. If her employment terminates under similar circumstances between
June 1, 2007 and June 1, 2008, she will receive a payment of $320,000.