Ingram Micro 2007 Annual Report Download - page 50

options expire first. The disability benefit relates only to the first year of disability and is a combination of salary
continuation, short-term disability payments and long-term disability payments.
Mr. Monié
For the purposes of this analysis, we assumed Mr. Monié’s compensation is as follows: base salary as of
December 31, 2007 equal to $650,000, annual incentive opportunity equal to 90% of base salary. Assuming
Mr. Monié’s voluntary termination date is December 31, 2007, Mr. Monié would be due payment of $308,305 based
on actual 2007 Company performance under the 2007 short-term incentive program for time served under the
Corporation’s incentive program. Prior to Mr. Monié’s relocation to the United States to serve as President and
Chief Operating Officer, he received payment of his short-term incentive based on Asia Pacific Region’s 2007
performance where he served as Executive Vice President and President, Ingram Micro Asia Pacific. He was
advanced 31/36ths payment under the 2005-2007 Cash LTIP program prior to his relocation to United States.
Mr. Monié is still eligible for 5/36ths payment under the 2005-2007 Cash LTIP program based on the Company’s
actual achievement during the performance measurement cycle. See “Compensation Discussion and Analysis —
Element of Compensation — Long-Term Incentives” for further information on payout under this program. If
Mr. Monié voluntarily terminates within 3 years from the date of his promotion, he must repay Ingram Micro
$1,000,000 of the $2,000,000 relocation bonus and relocation related expenses.
Mr. Monié is not eligible for retirement under the 2003 Plan’s definition for retirement.
If involuntarily terminated, other than for cause, Mr. Monié would still be due payments for those awards
earned and payable to him as specified under voluntary termination. In addition under the Executive Officer
Severance policy, he would be eligible to receive outplacement services for up to one year (not to exceed $20,000)
plus separation pay equal to the sum of 12 months base pay in effect on the effective date of his termination of
employment with the Company and his target annual bonus in effect for the year in which his termination is
effective. Assuming participation through December 31, 2007 and target awards under the 2006 EIP Program and
2007 EIP Program, Mr. Monié would also be eligible for 2/3 and 1/3 award payouts, respectively under involuntary
termination not for cause. In case of termination for any reason other than death or disability, if Mr. Monié is
terminated within 3 years from the date of his promotion, he must repay Ingram Micro $1,000,000 of the $2,000,000
relocation bonus. The Company is responsible for relocating Mr. Monié and his spouse to Singapore which includes
airfare, small air shipment of personal affects, shipment of household goods, temporary living and storage of
household goods and personal affects unless Mr. Monié voluntarily terminates his employment or in the case of
reassignment.
Upon death or disability, Mr. Monié would be due payments for those awards earned and payable to him as
specified under voluntary termination. In addition, Mr. Monié would be eligible for full award payout under the
2006 EIP Program and the 2007 EIP Program. Assuming Mr. Monié’s date of termination is December 31, 2007,
Mr. Monié’s would be eligible to exercise any vested stock options (estimated value of $531,485) for either 60 or
90 days in accordance with the applicable stock option agreement. Upon death, all of Mr. Monié’s unvested stock
options (estimated value of $43,738) would immediately vest and the estate would have one year to exercise. Life
insurance proceeds equal to $500,000 is payable related to his assignment in Singapore which remains in effect
through December 31, 2007 in addition to life insurance proceeds equal to one times base salary, assuming natural
death, which is the same benefit level to all U.S. associates.
Upon disability any unvested stock options granted on or after January 1, 2006 would immediately vest and
Mr. Monié would have five years from his date of disability to exercise unless options expire first. In addition,
unvested stock options granted prior to January 1, 2006 would continue to vest in accordance with their original
vesting schedule and Mr. Monié would have one year to exercise from the last vesting date unless options expire
first. In case of termination due to death or disability, the Company would remain responsible for relocating
Mr. Monié and his spouse as previously stated. The disability benefit relates only to the first year of disability and is
a combination of salary continuation, short-term disability payments and long-term disability payments.
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