Kodak 2007 Annual Report Download - page 197
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74
Severance Benefits Based on Termination Due to Death Table(1)
The table below estimates the incremental amounts payable upon a termination of employment due to death, 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 $ 0 $ 0 $ 0 $ 0 $ 0
Intrinsic Value of Stock Options (2) 0 0 0 0 0
Restricted Stock (3) 3,575,461 1,093,500 185,246 113,265 445,907
Leadership Stock (4) 1,606,887 510,883 299,825 299,825 299,825
Benefits/Perquisites (5) 14,000 0 0 0 0
Pension (6) 702,626 0 0 0 0
Total $5,898,974 $1,604,383 $485,071 $413,089 $745,732
(1) The values in this table: 1) reflect incremental payments associated with a termination due to death; 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) All outstanding stock options that would vest in the event of a termination due to death 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.
(3) For all Named Executive Officers, except Mr. Faraci, the values in this row report the value of unvested shares of restricted
stock/restricted stock units that would automatically vest upon a termination due to death. For Mr. Faraci, the value in this row
represents the value of unvested shares of restricted stock that vest on a pro rata basis pursuant to the terms of Mr. Faraci’s signing
bonus, included in his offer letter, discussed on page 54 of this Proxy Statement.
(4) 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%.
(5) Mr. Perez's estate would be entitled to $14,000 in perquisites, which represents two years of financial counseling services, valued at
$7,000 per year.
(6) 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.