Assurant 2005 Annual Report Download - page 17

COMPENSATION OF DIRECTORS AND NAMED EXECUTIVE OFFICERS
The following table sets forth the cash and other compensation paid by Assurant and its subsidiaries to the named executive officers of
Assurant for all services in all capacities during the years indicated.
Summary Compensation Table
11
Long
-
Term Compensation
Awards
Payouts
Annual Compensation
Securities
Name and
Other Annual
Restricted Stock
Underlying
LTIP
All Other
Principal Position
Year
Salary
Bonus
Compensation(1)
Awards(2)
Options(3)
Payouts(4)
Compensation(5)
($)
($)
($)
($)
(#)
($)
($)
J. Kerry Clayton
2004
840,000
1,444,800
3,059
583,230
—
5,053,676
172,368
President and Chief
2003
811,200
1,622,400
—
—
30,000
—
865,864
Executive Officer
2002
780,000
1,560,000
—
—
30,000
—
54,600
Robert B. Pollock
2004
672,000
1,155,840
5,428
279,960
—
3,619,251
124,271
Executive Vice President
2003
649,000
1,103,300
1,761
—
15,000
69,244
468,515
and Chief Financial Officer
2002
624,000
1,067,368
—
—
15,000
—
43,680
Lucinda Landreth
2004
415,000
1,030,860
2,503
28,809
—
119,360
84,574
President and Chief
2003
400,000
877,200
3,000
—
1,000
282,910
66,076
Investment Officer(6)
2002
212,307
330,804
—
1,000
—
8,000
Philip Bruce Camacho
2004
544,000
656,880
25,128
75,550
—
669,899
60,351
Executive Vice President;
2003
525,000
318,150
23,320
—
4,000
—
129,865
President and Chief Executive
Officer, Assurant Solutions
2002
478,400
278,907
14,966
—
4,000
220,000
33,488
Lesley Silvester
2004
448,000
654,976
19
186,630
—
1,529,874
70,727
Executive Vice
2003
432,600
562,380
3,000
—
10,000
—
240,942
President
2002
416,000
540,800
—
—
10,000
—
29,120
(1) The named executive officers received the following perquisites and other personal benefits: (i) $3,000 for a one-time, personal financial
counseling session, including tax preparation, estate planning, and an in-depth explanation of the Company’s executive compensation
program as it applies to each executive (paid in 2004 for Mr. Clayton and Mr. Pollock, and in 2003 for Ms. Silvester, Mr. Camacho and
Ms. Landreth); (ii) $2,500 for additional financial counseling sessions paid to Ms. Landreth in 2004; (iii) a gross-up payment for
Medicare taxes paid on compensatory stock dividends of $0.07 per share paid by the Company in 2004 with respect to unvested restricted
stock, in the following amounts: Mr. Clayton, $59; Mr. Pollock, $28; Ms. Landreth, $3; Mr. Camacho, $8 and Ms. Silvester, $19,
(iv) reimbursements of membership fees of $10,103 and reimbursements of conference expenses of $12,165 paid to Mr. Camacho in
2004, $13,726 for reimbursements of conference expenses paid to Mr. Camacho in 2003 and reimbursements of conference expenses of
$9,810 paid to Mr. Camacho in 2002; (v) reimbursements of conferences expenses of $1,501 paid to Mr. Pollock in 2004 and $1,037 in
2003; (vi) gross-up payments to Mr. Pollock of $899 for taxes paid on reimbursement of conference expenses in 2004 and $724 in 2003;
and (vii) gross-up payments to Mr. Camacho of $2,852 for taxes paid on reimbursement of conference expenses in 2004, $6,594 in 2003
and $5,156 in 2002.
(2) Awards of restricted shares to the named executive officers during fiscal year 2004 were made under the Assurant, Inc. 2004 Long-Term
Incentive Plan. The value of the awards that is shown in the table is based upon the closing market price of the Common Stock on the
grant dates. Grantees have the right to vote, and dividends are payable to the grantees with respect to all awards of restricted shares
reported in this column. All shares of restricted stock underlying the market value shown in the table are scheduled to vest in equal annual
installments over the three years following the date of grant, subject to accelerated vesting pursuant to the terms of the 2004 Long-Term
Incentive Plan. The aggregate holdings underlying the aggregate market value of restricted stock held as of December 31, 2004, by the
individuals listed in this table are: Mr. Clayton, 19,091 shares; Mr. Pollock, 9,164 shares; Ms. Landreth, 943 shares; Ms. Silvester,
6,109 shares; and Mr. Camacho, 2,473 shares.