Rayovac 2009 Annual Report Download - page 122

Table of Contents
Index to Financial Statements
Amy J. Yoder
Amy J. Yoder
Termination Date October 8, 2008
Cash Severance
Salary $ 500,000(1)
Bonus $ 114,000(2)
2008 Bonus (Earned/Paid) $ 114,000(3)
2008 LTIP Cash $ 250,000(4)
Unused Vacation $ 26,153(5)
Cash Award $ 225,000(6)
Equity Awards
Unvested Restricted Stock $ 229,842(7)
Other Benefits
Welfare Benefits $ 64,063(8)
Company Car $ 22,500(9)
Outplacement $ —(10)
Total $ 1,554,558
(1) Reflects base salary continuation with monthly installments of $33,333.33 paid from November 30, 2008 through January 30, 2010. With respect to
these payments, the payments were suspended at the time the Company filed for bankruptcy on February 3, 2009. The payments resumed
September 30, 2009 after the Company emerged from bankruptcy. The payments will now continue through August 31, 2010.
(2) Reflects bonus continuation with monthly installments of $7,600 paid from December 30, 2008 through January 30, 2010. With respect to these
payments, the payments were suspended at the time the Company filed for bankruptcy on February 3, 2009. The payments resumed September 30,
2009 after the Company emerged from bankruptcy. The payments will now continue through August 31, 2010.
(3) Reflects MIP bonus earned in Fiscal 2008 and paid in December 2008.
(4) Reflects cash−based LTIP award earned in Fiscal 2008 and paid in December 2008.
(5) Reflects 17 days of unused vacation time paid in 2008.
(6) Reflects additional cash award made to executive in accordance with such executive’s separation agreement.
(7) Reflects the total market value of all unvested restricted stock at termination. The restricted stock will continue to vest in accordance with the vesting
schedules set forth in the applicable award agreements. The value is calculated using the stock price at September 30, 2008 ($1.39 per share).
(8) Reflects health and welfare benefit continuation over a 15 month period. Benefit plans include: medical and dental insurance, life insurance,
supplemental executive life insurance, long−term disability insurance and supplemental long−term disability insurance.
(9) The Company will continue to provide the executive’s car allowance of $1,500 per month until January 30, 2010. With respect to these payments, the
payments were suspended at the time the Company filed for bankruptcy on February 3, 2009. The payments resumed September 30, 2009 after the
Company emerged from bankruptcy. The payments will now continue through August 31, 2010.
(10) Outplacement services were offered, for a period of six months, up to the amount shown. However, the Company incurred no cost for this obligation.
Director Compensation Table
The Compensation Committee is responsible for approving, subject to review by the Board of Directors as a whole, compensation programs for our
non−employee directors. In that function, the Compensation Committee considers market data regarding director compensation and evaluates the
Company’s director compensation practices in light of that data and the characteristics of the Company as a whole.
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