Western Union 2013 Annual Report Download - page 86

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Executive Compensation PROXY STATEMENT
The Western Union Company – Proxy Statement | 68
NOTICE OF 2014 ANNUAL MEETING OF STOCKHOLDERS AND PROXY STATEMENT
The provision of severance benefits under the Executive
Severance Policy is conditioned upon the executive
executing an agreement and release which includes,
among other things, non-competition and non-solicitation
restrictive covenants as well as a release of claims against
the Company. These restrictive covenants vary in duration,
but generally do not exceed two years.
For the named executive officers serving as of
December 31, 2013, we have quantified the potential
payments upon termination under various termination
circumstances in the tables set forth below. While the
terms of our equity awards include retirement-vesting
provisions, none of our current named executive officers
are retirement eligible.
Payments Upon Termination or Change-in-Control
TERMINATION FOLLOWING A CHANGE-IN-CONTROL(1)
Long-Term Incentives(5)
Name
Severance
($000)(2)
Welfare
Benefits
($000)(3)
Performance
Cash
($000)
Stock
Options
($000)
Shares
($000)
Gross-Up
($000)(4)
Total
($000)
Hikmet Ersek 6,500.0 20.5 — 2,097.7 6,291.0 5,104.4 20,013.6
Scott T. Scheirman 2,838.8 20.7 — 609.3 1,942.7 — 5,411.5
J. David Thompson 2,033.3 20.7 — 402.2 1,924.1 — 4,380.3
Rajesh K. Agrawal 2,025.0 20.5 — 457.5 1,306.1 — 3,809.1
John R. Dye 2,200.0 13.5 — 335.2 806.7 — 3,355.4
INVOLUNTARY TERMINATION OTHER THAN FOR DEATH, DISABILITY, OR CAUSE
Long-Term Incentives(5)
Name
Severance
($000)(2)
Welfare
Benefits
($000)(3)
Performance
Cash
($000)
Stock
Options
($000)
Shares
($000)
Gross-Up
($000)(4)
Total
($000)
Hikmet Ersek 6,500.0 20.5 — 500.5 2,760.1 — 9,781.1
Scott T. Scheirman 2,838.8 20.7 — 148.0 903.0 — 3,910.5
J. David Thompson 2,033.3 20.7 — 86.4 63.9 — 2,204.3
Rajesh K. Agrawal 2,025.0 20.5 — 109.1 539.4 — 2,694.0
John R. Dye 2,200.0 13.5 — 72.0 187.1 — 2,472.6
DEATH OR DISABILITY
Long-Term Incentives(5)
Name
Severance
($000)(2)
Welfare
Benefits
($000)
Performance
Cash
($000)
Stock
Options
($000)
Shares
($000)
Gross-Up
($000)(4)
Total
($000)
Hikmet Ersek — — — 2,097.7 6,291.0 — 8,388.7
Scott T. Scheirman — — — 609.3 1,942.7 — 2,552.0
J. David Thompson — — — 402.2 1,924.1 — 2,326.3
Rajesh K. Agrawal — — — 457.5 1,306.1 — 1,763.6
John R. Dye — — — 335.2 806.7 — 1,141.9