Pottery Barn 2008 Annual Report Download - page 124
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The following table describes the payments and/or benefits which would have been owed by us to Ms. McCollam
as of February 1, 2009, if her employment had been terminated in various situations.
Compensation and Benefits
For Good
Reason
Involuntary
Without Cause
Change-in-
Control Death Disability
Base Salary(1) ............. $725,000 $725,000 — Through date of death $ 181,250(2)
Lump Sum Payment ........ $580,000 $580,000 — — —
Restricted Stock Units(3) .... — — $1,188,000 $1,188,000 $1,188,000
Health Care Benefits(4) ..... $ 8,892 $ 8,892 — — —
Other Perquisites(5) ........ $150,000 $150,000 — — —
(1) Based on Ms. McCollam’s base salary as of February 1, 2009.
(2) Payment of 13 weeks of salary.
(3) Acceleration of vesting of 150,000 restricted stock units. Value is based on a stock price of $7.92, the
closing price of our common stock on January 30, 2009, the last business day of fiscal 2008.
(4) Based on a monthly health insurance premium of $494 to be paid by the company for 18 months, which is
the period provided under COBRA.
(5) Value of outplacement services based on current estimate of costs for these services.
Restricted Stock Unit Grants
Ms. Alber, Ms. McCollam and Mr. DeMattei each received a grant of 150,000 restricted stock units in fiscal
2005. Each of these executives will receive accelerated vesting of such awards in the event of a change of
control. These executive officers will also have such awards vest in full upon a termination due to their death,
disability or retirement after attaining age 55 and working with us for at least 10 years. Based on a stock price of
$7.92, the closing price of our common stock on January 30, 2009, each of these awards has an estimated value
of $1,188,000.
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