Kodak 2010 Annual Report Download - page 155

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Deferred Compensation
Non-employee directors may defer some or all of their Board retainer, chair retainer, Presiding Director retainer and Restricted Stock
awards into a phantom stock account under the Directors’ Deferred Compensation Plan. The value of the Kodak phantom stock account
reflects changes in the market price of the common stock and dividends paid. Six directors deferred compensation in 2010. In the event of
a Change in Control, the amounts in the phantom accounts will generally be paid in a single cash payment. The plan’s benefits are neither
funded nor secured.
Other Benefits
The Company reimburses its directors for travel expenses incurred in connection with attending Board, Committee and shareholder
meetings and other Board business events, and provides Company transportation to the directors (including use of Company aircraft) to
attend such meetings and events. To encourage our directors to experience and familiarize themselves with our products and services, we
occasionally provide them with samples at no charge.
Charitable Award Program
This program, which was closed to new participants effective January 1, 1997, provides for a contribution by the Company of up to a total
of $1 million following a director’s death, to be shared by a maximum of four charitable institutions recommended by the director. The
individual directors derive no financial benefits from this program. It is funded by self-insurance and joint life insurance policies purchased
by the Company. Mr. Braddock is the only current director who continues to participate in the program.