Harris Teeter 2009 Annual Report Download - page 111

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37
Termination Following a Change in Control or Resignation For Good Reason. The table herein summarizes
the incremental benefits (beyond the accrued and vested benefits) that each of the NEOs would be entitled to,
assuming their termination occurred on September 27, 2009 concurrent with a “change in control” transaction.
Thomas W.
Dickson John B. Woodlief
Frederick J.
Morganthall, II Fred A. Jackson
Change In Control Benefit (1) ($) ........ 3,492,679 2,265,553 2,030,594 788,801
Incentive Bonus Payments (2) ($) ........ 502,944 294,060 359,738 —
Accelerated and Additional Portion
of SERP Benefits (3) ($) . . . . . . . . . . . . 9,661,000 1,240,000 814,000 151,000
Accelerated Equity Awards (4) ($) ....... 1,820,169 928,799 988,587 335,412
Health and Welfare Benefits (5) ($) . . . . . . 223,772 300,734 191,794 225,116
Excise Tax (280G) Gross-up (6) ($) . . . . . . 7,019,634 1,812,859 1,356,248 —
(1) The value of the Change in Control Benefit is calculated in accordance with and payable under the terms
of their Change-in-Control and Severance Agreement.
(2) The value of the Incentive Bonus payment is calculated in accordance with and payable under the terms of
their Change-in-Control and Severance Agreement.
(3) The value of the accelerated and additional portion of SERP Benefits reflects accelerated vesting in the
case of Mr. Dickson. It also reflects accelerated commencement of benefit payments without accrued
benefit reduction and additional service accrual for all NEOs, and it is valued using the discount rate and
method prescribed for the 280G calculations.
(4) The value of the accelerated equity awards is calculated by multiplying the number of accelerated restricted
stock and performance shares by the Closing Market Price.
(5) The value of the health and welfare benefits represents the aggregate estimated net cost to the Company
of health and welfare benefits provided to each NEO under the terms of their Change-in-Control and
Severance Agreement.
(6) Mr. Jackson is subject to the 280G Cap as described previously in the “Potential Payments Upon Termination
of Employment or Change in Control” section which results in no excise tax gross-up payment being made
to him, and instead requires a $14,370 reduction in the amount of aggregate incremental benefits otherwise
payable him. The amounts shown in this table do not reflect this required $14,370 reduction.