LeapFrog 2007 Annual Report Download - page 179
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If a covered termination is triggered and occurs in relation to a change in control of LeapFrog, the Severance
Plan provides for the following severance benefits:
Base Severance
(Months of Base Salary) Bonus Severance
Health Insurance
Payments Equity Acceleration Form of Payment
24 200% of Target
Bonus
24 months of
COBRA coverage
100% Lump Sum
Assuming a termination date of December 31, 2007, Messrs. Chiasson, Pidel and Dodd and Ms. MacIntyre
would be entitled to receive the following severance benefits:
Covered termination—No change in control
Name of Named Executive Officer
Payment of
Base Salary
($)
Health Insurance
Payments
($)
William B. Chiasson .................................................. 312,800 14,644
Martin A. Pidel ...................................................... 250,000 14,644
Nancy G. MacIntyre .................................................. 275,000 14,644
Michael J. Dodd ...................................................... 292,200 14,644
Covered termination—Change in control
Name of Named Executive Officer
Payment of
Base Salary
($)
Payment of
Bonus
($)
Health Insurance
Payments
($)(1)
Value of Equity
Acceleration
($)(2)
William B. Chiasson ............................ 625,600 312,800 29,288 —
Martin A. Pidel ................................ 500,000 250,000 29,288 —
Nancy G. MacIntyre ............................ 550,000 275,000 29,288 —
Michael J. Dodd ............................... 584,400 292,200 29,288 —
(1) Does not reflect potential increase of insurance premiums in 2009.
(2) Because the exercise price of the options exceeded $6.73, the closing price of our Class A common stock as
reported by the NYSE for December 31, 2007, there would be no value related to the equity acceleration,
assuming exercise on December 31, 2007.
Messrs. Chiasson, Pidel and Dodd and Ms. MacIntyre are required to execute a release prior to receiving
any of the foregoing benefits and benefits under the Severance Plan will terminate if, at any time, the officer
violates any proprietary information or confidentiality obligation to LeapFrog.
61