Kodak 2007 Annual Report Download - page 179

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Under his August 12, 2003 letter agreement, Mr. Langley is also eligible to receive a supplemental retirement benefit, which is described
under the Pension Benefits Table on page 63 of this Proxy Statement. This letter agreement was amended by a letter agreement dated
February 28, 2007 to provide that his supplemental retirement benefit will be paid in a lump sum.
At the time of Mr. Langley’s employment, the Company agreed to pay the airfare for up to 10 roundtrip flights per year for both he and Mrs.
Langley to travel between Rochester, NY and Boise, ID. For 2007, the amount of the Company-paid airfare for these trips is reflected in the
“All Other Compensation” column to the Summary Compensation Table on page 51 of this Proxy Statement.
In connection with Mr. Langley’s planned separation from service with the Company, the Compensation Committee approved a leaving
arrangement in 2007. The arrangement initially provided for a separation date of December 31, 2007, but this date was extended by the
Compensation Committee in December 2007 for an additional three to six months in order for Mr. Langley to complete his work on several
special projects. The leaving arrangement approved by the Compensation Committee provides Mr. Langley with severance payments and
benefits upon his termination of employment. For information regarding these severance payments and benefits, please read the narrative
descriptions and tables beginning on page 68 of this Proxy Statement. Mr. Langley’s last day of employment with the Company was
March 14, 2008.
Under his August 12, 2003 letter agreement, Mr. Langley is eligible for certain relocation benefits in connection with his termination of
employment. These include the payment of expenses related to the sale of his house in Rochester, New York and the shipment of his
household goods to his permanent residence. The total amount of these expenses is estimated to be $65,000.
Mary Jane Hellyar
In addition to the information provided elsewhere in this Proxy Statement, Ms. Hellyar is eligible to receive a base salary of $490,000 and a
target award under the EXCEL plan of 62% of her base salary. In February 2008, the Committee approved a 3% increase to her EXCEL
target opportunity to recognize her expanded responsibilities as President of FPEG and to improve her competitive positioning of her total
direct compensation.
The Company and Ms. Hellyar entered into a letter agreement dated August 18, 2006 to provide her with a restricted stock grant of 15,000
shares for retention purposes.
The term of Ms. Hellyar’s employment is indefinite but, according to her August 18, 2006 letter agreement, she will also be eligible for
certain severance benefits in connection with termination of her employment under various circumstances. For information regarding her
potential severance payments and benefits in connection with termination of her employment under various circumstances, please read
the narrative descriptions and tables beginning on page 68 of this Proxy Statement.
On October 16, 2007, Ms. Hellyar was granted 20,000 stock options upon her election to Executive Vice President. There was no other
change to her compensation associated with this election.