Starwood 2015 Annual Report Download - page 43

Table of Contents
Termination on Account of Death or Disability. The following table discloses the amounts that would have become payable on account of a termination due to
death or disability on December 31, 2015.
Name
Severance
Pay
($)
Medical
Benefits
($)
Vesting of
Restricted
Stock
($) (1)
Vesting of
Performance
Shares
($) (2)
Vesting of
Stock
Options
($) (3)
Total
($)
Mangas — — 2,106,043 — — 2,106,043
Poulter 1,500,000 — 3,351,074 — — 4,851,074
Rivera — — 3,456,864 326,701 48,419 3,831,984
Schnaid — — 822,492 35,237 — 857,729
Turner 766,785 12,462 2,323,513 762,288 201,768 4,066,816
(1) Includesvaluesforholdingsofunvestedrestrictedstockandrestrictedstockunits.
(2) Represents the value of the performance shares based on actual performance as of December 31, 2015 (although the actual prorated payment would be based on
performanceforthefullperformanceperiod).
(3) Excludesthevalueofvestedstockoptions.
Change in Control. The following table discloses the amounts that would have become payable on account of an involuntary termination without cause following a
change in control or a voluntary termination with good reason following a change in control had each occurred on December 31, 2015.
Name
Severance
Pay
($)
Medical
Benefits
($)
Vesting of
Restricted
Stock
($) (1)
Vesting of
Performance
Shares
($) (2)
Vesting of
Stock
Options
($) (3)
Outplacement
($) (4)
Tax
Gross-Up
($)
Total
($)
Mangas 4,903,010 37,290 2,106,043 995,900 — 200,000 — 8,242,242
Poulter 5,000,000 37,290 3,351,074 779,400 — 140,000 — 9,307,763
Rivera (5) 3,678,685 33,412 3,456,864 1,822,895 48,419 149,939 — 9,190,214
Schnaid 1,698,817 22,680 822,492 126,782 — 100,000 — 2,770,771
Turner (5) 3,811,050 37,614 2,323,513 3,794,396 201,768 153,357 — 10,321,698
(1) Includesvaluesforholdingsofunvestedrestrictedstockandrestrictedstockunits.
(2) RepresentsthevalueoftheperformancesharesbasedonactualperformanceasofDecember31,2015(althoughtheactualpaymentwouldbebasedonperformanceforthe
fullperformanceperiod).
(3) Excludesthevalueofvestedstockoptions.
(4) Representsthemaximumamountpayableforoutplacementservices.
(5) Excludesdistributionsrelatedtononqualifieddeferredcompensationthatispayableupondeath,disabilityorcertainchangesincontrolasdiscussedinthesectionentitled
2015 Nonqualified Deferred Compensation Table aboveinthisreport.
Certain One Time Payments Upon Termination of Employment
Separation Agreement with Mr. van Paasschen. As described above, we entered into the van Paasschen Separation Agreement with Mr. van Paasschen pursuant to
which his employment continued until February 28, 2015 and he served as a consultant to the Company from March 1, 2015 through May 31, 2015. Under the
terms of the van Paasschen Separation Agreement, Mr. van Paasschen received certain payments and benefits in 2015, including payments and benefits that may
differ from those to which we were obligated to pay him under the terms of his employment agreement as described above.
During the Consulting Period, Mr. van Paasschen received a monthly consulting fee in the amount of $104,167, less all taxes and withholdings. Pursuant to the van
Paasschen Separation Agreement, we also paid Mr. van Paasschen on June 30, 2015 a lump sum severance payment equal to $7,187,500, which was a value equal
to two times base salary and two times target bonus less fees paid to him for his consulting fee. In addition, we paid
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