Kodak 2007 Annual Report Download - page 196

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Severance Benefits Based on Termination Due to Disability Table(1)
The table below estimates the incremental amounts payable upon a termination of employment due to disability, as if the Named Executive
Officer’s employment was terminated as of December 31, 2007, using the closing price of our common stock as of December 31, 2007,
which was $21.87.
A.M.
Perez
F.S.
Sklarsky
P.J.
Faraci
J.T.
Langley
M.J.
Hellyar
Cash Severance (2) $ 0 $1,050,000 $ 0 $ 0 $1,587,600
Additional Severance Payment 0 0 0 0 320,000(8)
Intrinsic Value of Stock Options (3) 0 0 0 0 0
Restricted Stock (4) 3,520,786 1,093,500 227,164 113,265 445,907
Leadership Stock (5) 1,606,887 510,883 299,825 299,825 299,825
Benefits/Perquisites (6) 14,000 12,114 0 0 12,114
Pension (7) 702,626 0 0 0 0
Total $5,844,299 $2,666,497 $526,988 $413,089 $2,665,446
(1) The values in this table: 1) reflect incremental payments associated with a termination due to disability; 2) assume a stock price of
$21.87 equal to the closing market price of our common stock on December 31, 2007 (except where otherwise noted); and 3) include
all outstanding grants through the assumed termination date of December 31, 2007.
(2) The cash severance amounts disclosed above were calculated for each Named Executive Officer by multiplying the Named Executive
Officer's target cash compensation by a multiplier unique for each Named Executive Officer. Mr. Sklarsky's cash severance equation is
one times his target cash compensation. Ms. Hellyar's cash severance equation is two times her target cash compensation.
(3) All outstanding stock options that would vest in the event of a termination due to disability do not have any intrinsic value as of
December 31, 2007 because the exercise price of these stock options is above the closing market price of our common stock on
December 31, 2007.
(4) The amounts in this row report the value of unvested shares of restricted stock/restricted stock units that would automatically vest upon
a termination due to disability. For Mr. Perez, the amount disclosed also includes value of the unvested shares of restricted stock that
vest on a pro rata basis pursuant to the terms of Mr. Perez’s signing bonus, included in his offer letter, discussed on page 54 of this
Proxy Statement.
(5) The values in this row reflect the number of shares that our Named Executive Officers received under the 2007 Leadership Stock
performance cycle, based upon a performance percentage of 73%.
(6) Mr. Perez would be entitled to $14,000 in perquisites, which includes two years of financial counseling benefits, valued at $7,000 per
year. Mr. Sklarsky and Ms. Hellyar would be entitled to $12,114 in benefits/perquisites, which include: 1) four months of continued
medical, dental and life insurance benefits, valued at $3,114; and 2) outplacement benefits, valued at $9,000.
(7) The amounts included in this row report the incremental value of supplemental retirement benefits to which Mr. Perez would have been
entitled assuming he would receive his supplemental retirement benefit in the form of a lump sum.
(8) If Ms. Hellyar is terminated on or after June 1, 2007 and before June 1, 2008 as a result of disability or by the Company for any reason
other than cause without offering comparable employment, she will receive a payment of $320,000.