CompUSA 2010 Annual Report Download - page 40

Download and view the complete annual report

Please find page 40 of the 2010 CompUSA annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 108

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108

37
SUMMARY COMPENSATION TABLE
The following table sets forth the compensation earned by the Chief Executive Officer (“CEO”, our
principal executive officer), Chief Financial Officer (“CFO”, our principal financial officer), and the three most
highly compensated officers other than the CEO and CFO (collectively the “Named Executive Officers”) for fiscal
years 2008, 2009 and 2010:
Name and
Principal
Position
Year
Salary
($)
Bonus
($)
Stock
Awards
($)(1)
Option
Awards
($) (2)
Non-Equity
Incentive Plan
Compensation
($) (3)
All Other
Compensation
($)
Total
($)
Richard Leeds
2010
567,000
462,000
23,704
(4)
1,052,704
Chairman and Chief
Executive Officer
2009
2008
567,000
550,000
-
550,000
-
-
975,000
-
21,394
26,522
1,563,394
1,126,522
Bruce Leeds
2010
470,000
315,000
20,349
(4)
798,291
Vice Chairman
2009
470,000
-
-
670,000
18,321
1,158,321
2008
450,000
375,000
-
-
-
21,329
846,329
Robert Leeds
2010
470,000
315,000
19,064
(4)
797,006
Vice Chairman
2009
470,000
-
670,000
16,063
1,156,063
2008
450,000
375,000
-
-
-
20,003
845,003
Lawrence Reinhold
2010
471,912
2,168,250
346,500
23,776
(5)
3,010,438
Executive Vice
President and Chief
Financial Officer
2009
2008
471,625
455,250
-
325,000
-
-
1,013,170
353,250
719,200
-
26,531
22,923
2,230,526
1,156,423
Gilbert Fiorentino
2010
501,753
819,000
25,773 (5)
(6)
1,346,486
Chief Executive –
Technology
Products Group7
2009
2008
501,378
476,875
-
-
-
-
2,245,000
1,400,000
325,195
622,945
(6)
(6)
3,071,573
2,499,820
(1) This column represents the aggregate grant date fair value of the stock awards calculated in accordance with
FASB ASC Topic 718. See Note 8,
"Shareholders' Equity" in the Notes to Consolidated Financial Statements of
our Annual Report on Form 10-K for the year ended December 31, 2010, for further information regarding share
-
based compensation.
(2) This column represents the fair value of the stock option on the grant date determined in accordance with the
provisions of ASC 718. As per SEC rules relating to executive compensation disclosure, the amounts shown
exclude the impact of forfeitures rel
ated to service based vesting conditions. These amounts were calculated using
the Black-Scholes option-pricing model.
For additional information regarding assumptions made in calculating
the amount reflected in this column, please refer to Note 8 to our a
udited consolidated financial statements,
included in our Annual Report on Form 10-K for fiscal year 2010.
(3) The 2009 figures in this column represent the amount earned in fiscal year 2009 (although paid in fiscal year
2010) pursuant to the 2009 Bonus Plan and the 2010 figures in this column represent the amount earned in fiscal
year 2010 (although paid in fiscal year 2011) pursuant to the 2010 Bonus Plan.
For more information, see the
Grants of Plan-Based Awards table below. Because these payments,
as well as the payment that Mr. Fiorentino
earned in 2008, were based on predetermined performance metrics, these amounts are reported in the Non-Equity
Incentive Plan column.
7 Mr. Fiorentino is on administrative leave from his position with the Company. See “Employment Arrangements of the Named
Executive Officers- Gilbert Fiorentino” at page 33 and “Potential Payments Upon Termination or Change of Control- Gilbert
Fiorentino” at page 40 for additional information.