Kodak 2008 Annual Report Download - page 201

75
Severance Benefits Based on Termination with Good Reason Table(1)(2)
The table below estimates the incremental amounts payable upon a termination of employment by Mr. Perez with good reason, 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(3)
Cash Severance (4) $5,610,000 N/A
N/A
N/A N/A N/A
Intrinsic Value of Stock Options (5) 0N/A
N/A
N/A N/A N/A
Restricted Stock (6) 322,367 N/A
N/A
N/A N/A N/A
Leadership Stock (7) 511,676 N/A
N/A
N/A N/A N/A
Benefits/Perquisites (8) 25,997 N/A
N/A
N/A N/A N/A
Pension (9) 1,644,234 N/A
N/A
N/A N/A N/A
Total $8,114,275 N/A
N/A
N/A N/A N/A
(1) This table only includes Mr. Perez because no other Named Executive Officer will receive severance benefits upon their
voluntary termination.
(2) The values in this table: 1) reflect incremental payments associated with a voluntary termination with good reason; 2) assume a
stock price of $6.58 (except where otherwise noted); and 3) include all outstanding grants through the assumed termination date
of December 31, 2008.
(3) 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.
(4) The cash severance amount for Mr. Perez was calculated by multiplying two times Mr. Perez's target cash compensation.
(5) All outstanding stock options that would vest in the event of a termination due to good reason 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.
(6) The amount in this row represents the value of unvested shares of restricted stock that would automatically vest upon voluntary
termination for good reason.
(7) 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.
(8) Mr. Perez would be entitled to $25,997 in benefits/perquisites, which include: 1) four months of continued medical and dental
benefits, valued at $2,997; 2) outplacement benefits, valued at $9,000; and 3) two years of financial counseling benefits, valued
at $7,000 per year.
(9) 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.