Kodak 2008 Annual Report Download - page 199

73
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, 2008, using the closing price of our common stock as of December 31, 2008,
which was $6.58.
A.M.
Perez
F.S.
Sklarsky
P.J.
Faraci
M.J.
Hellyar
R.L.
Berman
J.T.
Langley(2)
Cash Severance (3) $ 0 $1,050,000 $ 0 $1,617,000 $ 0
N/A
Intrinsic Value of Stock Options(4) 000 00
N/A
Restricted Stock (5) 322,367 164,500 56,535 122,342 43,869
N/A
Leadership Stock (6) 511,676 162,679 95,472 94,088 71,680
N/A
Benefits/Perquisites (7) 14,000 12,017 0 12,017 0
N/A
Pension (8) 1,644,234 0 0 0 0
N/A
Total $2,492,278 $1,389,196 $152,008 $1,845,447 $115,549
N/A
(1) The values in this table: 1) reflect incremental payments associatedwithaterminationduetodisability;2)assumeastockprice
of $6.58 (except where otherwise noted); and 3) includes all outstanding grants through the assumed termination date of
December 31, 2008.
(2) Mr. Langley terminated his employment with the Company as of March 14, 2008. Please see page 71 of this Proxy Statement for
a discussion of the payments made to Mr. Langley in connection with his termination.
(3) The cash severance amounts disclosed above were calculated for each Named Executive Officer by multiplying the named
Executive'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.
(4) All outstanding stock options that would vest in the event of termination due to disability do not have any intrinsic value as of
December 31, 2008 because the exercise price of these stock options is above the closing market price of our common stock on
December 31, 2008.
(5) The amounts in this row report the value of unvested shares of restricted stock that would automatically vest upon a termination
due to disability.
(6) The values in this row reflect a 73% earnout for the 2007 Leadership Stock performance cycle (including dividend equivalents)
and a 0% earnout for the 2008 Leadership Stock performance cycle.
(7) 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 $12,017 in benefits/perquisites, which include: 1) four months of
continued medical, dental and life insurance benefits, valued at $3,017 and 2) outplacement benefits, valued at $9,000.
(8) The amounts included in this row report the incremental value of pension benefits to which Mr. Perez would have been entitled
assuming he would receive his pension benefit in the form of a lump sum.