Kodak 2010 Annual Report Download - page 178

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52
EMPLOYMENT AND RETENTION ARRANGEMENTS
The material terms of each Named Executive Officer’s employment or retention arrangements with the Company are described below. The
levels of salary, annual variable incentive compensation and long-term incentive compensation, as well as the material considerations that
the Committee takes into account in establishing target levels for each of these elements, are described in the Compensation Discussion
and Analysis on pages 36 – 48 of this Proxy Statement.
Antonio M. Perez
The Company employed Mr. Perez as President and Chief Operating Officer under a letter agreement dated March 3, 2003. This
agreement was subsequently amended on February 27, 2007, December 9, 2008, April 29, 2009 and September 28, 2009. In addition, by
letter dated May 10, 2005, the Board elected Mr. Perez as Chief Executive Officer, effective immediately, and Chairman of the Board,
effective December 31, 2005. Under his letter agreement as amended, Mr. Perez is currently eligible for:
• An annual base salary of no less than $1.1 million;
• The Company’s EXCEL and annual long-term incentive program;
• A performance stock unit grant for 2010 and 2011 with an intended dollar value of $1.23 million as described on page 44 of this
Proxy Statement;
• All benefit plans, policies and arrangements that are provided to employees generally;
• A supplemental unfunded retirement benefit as described on page 61 of this Proxy Statement; and
• Certain severance benefits as described on page 64 of this Proxy Statement.
Antoinette P. McCorvey
Ms. McCorvey became CFO on November 5, 2010. Ms. McCorvey entered into an individual letter agreement with the Company on
October 4, 1999 in connection with her initial employment as an Assistant Controller on December 1, 1999. Under her letter agreement,
Ms. McCorvey is currently eligible for:
• An annual base salary;
• The Company’s EXCEL and annual long-term incentive program; and
• All benefit plans, policies and arrangements that are provided to employees generally.
Philip J. Faraci
The Company employed Mr. Faraci under a letter agreement dated November 3, 2004. This agreement was subsequently amended on
February 28, 2007 and December 9, 2008. Under his letter agreement as amended, Mr. Faraci is currently eligible for:
• An annual base salary;
• The Company’s EXCEL and annual long-term incentive program;
• All benefit plans, policies and arrangements that are provided to employees generally; and
• A supplemental unfunded retirement benefit as described on page 61 of this Proxy Statement.
Pradeep Jotwani
The Company employed Mr. Jotwani as President, Consumer Digital Imaging Group, and CMO under a letter agreement dated
September 24, 2010. Under his letter agreement, Mr. Jotwani is currently eligible for:
• An annual base salary;
• The Company’s EXCEL and annual long-term incentive program;
• An equity award in connection with the commencement of his employment, as described on page 40 of this Proxy Statement;
• All benefit plans, policies and arrangements that are provided to employees generally; and
• Certain severance benefits expiring on September 27, 2013 as described on page 65 of this Proxy Statement.
Joyce P. Haag
Ms. Haag did not have a letter agreement concerning her employment or retention.
Former Executive: Frank S. Sklarsky
Mr. Sklarsky’s last date of employment with the Company was November 5, 2010. Because his departure was voluntary, Mr. Sklarsky did
not receive any severance payments or benefits other than his vested retirement benefits.