Kodak 2004 Annual Report Download - page 150

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Compensation
41
E A S T M A N฀ K OD A K ฀ C O M PA N Y
for฀that฀year฀if฀he฀achieves฀at฀least฀the฀plan’s฀“minimum฀performance฀goal”฀for฀that฀year.฀The฀target฀award฀for฀each฀year฀of฀the฀plan฀is฀as฀follows:฀2004฀
–฀$200,000;฀2005฀–฀$300,000;฀2006฀–฀$500,000.฀As฀described฀in฀the฀footnotes฀to฀the฀Summary฀Compensation฀Table฀on฀page฀34,฀Mr.฀Langley฀achieved฀
the฀plan’s฀goals฀for฀2004฀and,฀therefore,฀received฀the฀payment฀of฀$200,000.฀Except฀in฀limited฀circumstances,฀Mr.฀Langley฀must฀be฀employed฀on฀the฀last฀
day฀of฀the฀year฀in฀order฀to฀be฀eligible฀for฀any฀award฀payable฀for฀that฀year.฀
The฀offer฀letter฀states฀that฀upon฀any฀of฀the฀following฀circumstances,฀Mr.฀Langley’s฀relocation฀to฀his฀prior฀primary฀residence฀will฀be฀covered฀under฀the฀terms฀
of฀the฀Company’s฀relocation฀program฀if฀he฀so฀chooses:฀1)฀termination฀without฀cause;฀2)฀termination฀for฀good฀reason;฀or฀3)฀voluntary฀termination฀following฀
the฀third฀anniversary฀of฀Mr.฀Langley’s฀commencement฀of฀employment.฀Under฀the฀same฀three฀situations,฀Mr.฀Langley฀is฀permitted฀to฀retain฀all฀his฀stock฀op-
tions฀following฀his฀termination฀of฀employment,฀with฀the฀exception฀of฀those฀granted฀to฀him฀within฀the฀one-year฀period฀ending฀on฀the฀date฀of฀his฀termination฀
of฀employment.
If฀the฀Company฀terminates฀Mr.฀Langley’s฀employment฀without฀cause฀or฀if฀he฀terminates฀his฀employment฀in฀certain฀other฀limited฀circumstances,฀Mr.฀Langley฀
is฀eligible฀to฀receive฀under฀the฀offer฀letter:฀1)฀severance฀pay฀up฀to฀one฀times฀his฀base฀salary฀plus฀target฀annual฀bonus฀and฀2)฀the฀then฀current฀balance฀in฀the฀
phantom฀cash฀balance฀account฀described฀on฀page฀45฀plus฀a฀prorated฀portion฀of฀the฀$100,000฀contribution฀for฀the฀year฀of฀his฀termination฀of฀employment.฀฀
Bernard฀V.฀Masson฀
The฀Company฀employed฀Mr.฀Masson฀under฀an฀offer฀letter฀dated฀November฀7,฀2002.฀The฀Company฀entered฀into฀a฀subsequent฀letter฀agreement฀with฀Mr.฀
Masson฀on฀August฀13,฀2003฀as฀a฀result฀of฀his฀appointment฀as฀President,฀Digital฀&฀Film฀Imaging฀Systems.฀Under฀this฀letter฀agreement,฀Mr.฀Masson฀is฀
eligible฀to฀receive฀a฀severance฀allowance฀equal฀to฀one฀times฀his฀base฀salary฀plus฀target฀annual฀bonus฀if฀he฀is฀terminated฀by฀the฀Company฀prior฀to฀August฀
13,฀2008,฀for฀reasons฀other฀than฀cause฀or฀disability.
n฀Section฀16(a)฀Beneficial฀Ownership฀Reporting฀Compliance
Section฀16฀of฀the฀Securities฀Exchange฀Act฀of฀1934,฀as฀amended,฀requires฀our฀executive฀officers฀(as฀defined฀under฀Section฀16),฀directors฀and฀persons฀who฀
beneficially฀own฀greater฀than฀10%฀of฀a฀registered฀class฀of฀our฀equity฀securities฀to฀file฀reports฀of฀ownership฀and฀changes฀in฀ownership฀with฀the฀SEC.฀We฀
are฀required฀to฀disclose฀any฀failure฀of฀these฀executive฀officers,฀directors฀and฀10%฀stockholders฀to฀file฀these฀reports฀by฀the฀required฀deadlines.฀Based฀solely฀
on฀our฀review฀of฀the฀copies฀of฀these฀forms฀received฀by฀us฀or฀written฀representations฀furnished฀to฀us,฀we฀believe฀that,฀for฀the฀reporting฀period฀covering฀our฀
2004฀fiscal฀year,฀due฀to฀a฀clerical฀error฀on฀the฀part฀of฀the฀Company,฀the฀SEC฀Form฀3฀originally฀filed฀on฀behalf฀of฀one฀executive฀officer,฀Daniel฀Meek,฀al-
though฀timely,฀did฀not฀contain฀a฀complete฀description฀of฀his฀holdings฀of฀Company฀securities฀and,฀therefore,฀was฀not฀deemed฀filed฀by฀the฀required฀deadline.฀฀
An฀Amended฀Form฀4฀dated฀September฀17,฀2004฀corrected฀this฀error.