Autodesk 2007 Annual Report Download - page 38
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24
• Change in Control Program—The Company has structured its Change in Control program so that
in the event payment of benefits constitutes a “parachute” payment under Section 280G of the
Internal Revenue Code, the Company will revise and limit the payment so that the Company does
not incur additional tax burden on behalf of the participant. For more information, refer to the
“Executive Change in Control Program” section on page 26.
• Executive Incentive Plan—The EIP is structured to comply with the requirements of Section 162(m)
of Internal Revenue Code, which allow certain payments under the plan to be deductible for federal
income tax purposes.
Post-Employment Obligations
• Employment Agreements
The Company currently has employment agreements with two of its Named Executive Officers.
These agreements are summarized in the following table. Details of these agreements can be found in the
Form 8-K filings as noted below.
Compensation
Carol A. Bartz
Form 8-K Filed 1/25/2007
(period 1/19/2007)
Carl Bass
Form 8-K Filed 12/20/2006
(period 12/14/2006)
Annual Salary . . . . . . . . . . . . . . . . $500,000 $700,000
Bonuses ..................... None • Participates in the EIP
• Target incentive 100 percent of
base salary
Stock Options................ • Continue to vest previously
granted options
• No longer receive grants
customarily awarded to
executive officers
• After 1/31/2007 may be granted
stock options or other equity
grants at the discretion of the
Board
• Continue to be eligible to
receive grants customarily
awarded to executive officers
Employee Benefits. . . . . . . . . . . . • Eligible to participate in
benefits normally provided to
employees
• Four weeks paid annual
vacation
• Eligible to participate in
benefits normally provided to
employees
• Four weeks paid annual
vacation
Expenses .................... • Eligible for reimbursement
under Company’s expense
reimbursement policy
• Eligible for reimbursement
under Company’s expense
reimbursement policy
Severance Benefits . . . . . . . . . . . • Eligible for post-employment
health insurance
N/A