Pep Boys 2011 Annual Report Download - page 35

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29
Potential Payments Upon Termination or Change of Control
The following table shows information regarding the payments and benefits that each named executive officer
would have received under his Non-Competition Agreement assuming that he was terminated without cause as of
January 28, 2012.
Name
Cash Payment
($)
Michael R. Odell 820,000
Raymond L. Arthur 525,000
William E. Shull III 350,000
Scott A. Webb 450,000
Joseph A. Cirelli 315,020
The following table shows information regarding the payments and benefits that each named executive officer
would have received under his Change of Control Agreement assuming that he was terminated immediately upon a
change of control as of January 29, 2012. In accordance with the terms of our Change of Control Agreements, the
two times multiple set forth in the following table is reduced by 1/24th for each month that a named executive officer
remains employed by the Company following a change of control (e.g. a named executive terminated twelve months
following a change of control would receive half of the amounts set forth in the table).
Name
2X
Base
Salary
($)
2X
Target
Bonus
($)
2X
Account
Plan
Contri-
butions
($)
2X
Health
and
Welfare
Benefits
($)
Value of
Accelerated
Vesting of
Outstanding
Equity Awards
($)(a)
Total
($)
Michael R. Odell 1,640,000 1,640,000 524,800 75,225 2,647,263 6,527,288
Raymond L. Arthur 1,050,000 787,500 294,000 59,820 427,398 2,618,718
William E. Shull 700,000 455,000 115,500 58,160 351,287 1,679,947
Scott A. Webb 900,000 585,000 237,600 60,187 412,878 2,195,665
Joseph A. Cirelli 630,000 283,500 146,160 46,538 227,571 1,333,769
(a) Represents the value of the accelerated vesting of all “in the money” stock options and RSUs at the closing
price of a share of PBY Stock on January 27, 2012 ($12.08).