Rayovac 2009 Annual Report Download - page 119

Table of Contents
Index to Financial Statements
Anthony L. Genito
Termination Scenarios
Component
Voluntary/
For Cause/
Retirement Without Cause Death Disability Change In Control (CIC & Exec Term)
Cash Severance(1) $ — $1,700,000 $1,700,000 $1,700,000 $ 1,700,000
Retention Award(2) $ — $ 281,250 $ — $ — $ 281,250
2008 Cash LTIP(3) $ — $ 187,500 $ 187,500 $ 187,500 $ 187,500
2009 Cash LTIP(4) $ — $1,195,312 $1,195,312 $1,195,312 $ 1,195,312
Other Benefits
Health and Welfare(5) $ — $ 80,000 $ 80,000 $ 80,000 $ 80,000
Tax Gross−Up(6) $ — $ — $ — $ — $ —
Total (7) $ — $3,444,062 $3,162,812 $3,162,812 $ 3,444,062
(1) Reflects cash severance of two times the sum of Mr. Genito’s base salary and target MIP award. Payments will be made in monthly installments over a
period of 24 months.
(2) Amounts reflect the remaining portion of the retention incentive pursuant to Mr. Genito’s retention agreement that would be paid in full for termination
without cause, for good reason or upon a change in control.
(3) Amount represents the accelerated Cash LTIP award benefit that was earned in Fiscal 2008 but would have been paid in December of 2009.
(4) Amount represents the accelerated 2009 Cash LTIP that was earned with respect to performance in Fiscal 2009 but would have been paid half in
December of 2009 and the remaining half in November of 2010.
(5) Reflects 24 months of health and welfare benefit continuation for Mr. Genito and his dependents.
(6) The executive would owe an excise tax payment if a change in control occurred at fiscal year end according to section 280G under the Internal Revenue
Code but the Company does not provide any tax gross−up payment to cover this tax.
(7) These amounts take into account only programs or agreements in place prior to the end of Fiscal 2009.
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