FairPoint Communications 2010 Annual Report Download - page 147
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Table of Contents
for more information about the assumptions FairPoint used to determine the grant date value of the awards
(2) The amount shown in column (i) for 2010 reflects the following for each NEO:
Matching contributions made by FairPoint to its 401(k) retirement savings plan in the amounts of $5,769 for Mr. Sunu, $12,250 for Mr. Hauser,
$2,135 for Mr. Sabherwal, $5,728 for Mr. Giammarino, $10,619 for Mr. Nixon, $10,379 for Ms. Linn, $6,306 for Ms. Hood and $11,718 for
Mr. Allieri;
Contributions made by FairPoint to the term life insurance plans it sponsors for all eligible employees (including our NEOs) in the amounts of
$1,863 for Mr. Sunu, $6,579 for Mr. Hauser, $587 for Mr. Sabherwal, $1,298 for Mr. Giammarino, $4,773 for Mr. Nixon, $6,732 for
Ms. Linn, $1,069 for Ms. Hood and $1,805 for Mr. Allieri;
A one-time signing bonus of $500,000 paid to Mr. Sunu, in accordance with his employment agreement, upon commencement of his employment.
Relocation expenses reimbursed by FairPoint in the amounts of $24,461 for Mr. Sabherwal and $40,149 for Mr. Allieri;
Severance pay in the amount of $268,237 for Mr. Allieri.
Consulting services fees in the amount of $1,589,643 for Mr. Hauser.
(3) Mr. Sunu was appointed as our Chief Executive Officer on August 24, 2010, succeeding Mr. Hauser, who resigned effective August 24, 2010.
(4) Mr. Sabherwal was appointed Chief Financial Officer on July 19, 2010, succeeding Ms. Hood. Ms. Hood was appointed Chief Financial Officer on an
interim basis on March 31, 2010, succeeding Mr. Giammarino, who resigned effective March 30, 2010.
No plan-based awards were granted during the year ended December 31, 2010.
Pursuant to the Plan, all outstanding equity interests of the Company, including but not limited to all outstanding shares of common stock, options and
contractual or other rights to acquire any equity interests, were cancelled and extinguished on the Effective Date. See “Item 1. Business—Bankruptcy—The
Plan—New Long Term Incentive Plan and Success Bonus Plan.”
The following table shows the equity-based awards held by the NEOs as of December 31, 2010. Pursuant to the Plan, all outstanding equity interests of the
Company, including but not limited to all outstanding shares of common stock, options and contractual or other rights to acquire any equity interests, were
cancelled and extinguished on the Effective Date. See “Item 1. Business—Bankruptcy—The Plan—New Long Term Incentive Plan and Success Bonus
Plan.”
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