Kodak 2008 Annual Report Download - page 204

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, 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) $ 8,415,000 $3,150,000
$3,885,000
$2,425,500 $1,905,750 N/A
Intrinsic Value of Stock Options (4) 00
0
00N/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) 9,050 9,050
9,050
9,050 9,050 N/A
Pension (8) 1,644,234 769,590
1,976,349
809,754 792,159 N/A
Excise Tax Gross-Up 4,487,822 1,922,694
2,982,354
1,451,334 1,197,107 N/A
Total $15,390,150 $6,178,513
$9,004,761
$4,912,068 $4,019,616 N/A
(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 $6.58 (except where otherwise noted); and 3) include all outstanding grants through the assumed
change-in-control/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 Officer's target cash compensation by three.
(4) All outstanding stock options that would vest in the event of a termination following a change-in-control 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 values in this row report the value of unvested shares of restricted stock that would automatically vest upon a termination
subsequent to a change-in-control.
(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) All Named Executive Officers would be entitled to $9,050 in benefits, which represents one year of continued medical, dental and
life insurance.
(8) The amounts included in this row represent the incremental value of pension benefits to which the Named Executive Officers
would have been entitled.