Kodak 2007 Annual Report Download - page 201
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78
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 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) $ 8,415,000 $3,150,000 $3,885,000 $2,430,000 $2,381,400
Additional Severance Payment 0 0 0 0 320,000(8)
Intrinsic Value of Stock Options (3) 0 0 0 0 0
Restricted Stock (4) 3,575,461 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) 9,341 9,341 9,341 9,341 9,341
Pension (7) 702,626 349,230 1,248,313 386,747 2,484,010
Excise Tax Gross-Up 5,022,368 2,071,883 2,793,633 1,324,213 2,803,835
Total $19,331,683 $7,184,838 $8,463,276 $4,563,390 $8,744,318
(1) The values in this table: 1) reflect incremental payments associated with a termination in connection with a change-in-control; 2)
assume a stock price of $21.87 (except where otherwise noted); and 3) include all outstanding grants through the assumed change-in-
control/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 three.
(3) All outstanding stock options that would accelerate in the event of a termination following a change-in-control do not have any intrinsic
value as of December 31, 2007.
(4) The values in this row report the value of unvested shares of restricted stock/restricted stock units that would automatically vest upon a
termination subsequent to a change-in-control.
(5) The values in this row reflect a 73% earnout for the 2007 Leadership Stock performance cycle.
(6) All Named Executive Officers would be entitled to $9,341 in benefits, which represents one year of continued medical, dental and life
insurance.
(7) The amounts included in this row represent the incremental value of enhanced pension benefits to which the Named Executive
Officers would have been entitled.
(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.