Rayovac 2008 Annual Report Download - page 118

Table of Contents
Index to Financial Statements
Amy J. Yoder
Amy J. Yoder
Termination Date October 8, 2008
Cash Severance
Salary $ 500,000(1)
Bonus $ 114,000(2)
2008 Bonus (Earned/Paid) $ 114,000(3)
2008 LTIP Cash $ 250,000(4)
Unused Vacation $ 26,153(5)
Cash Award $ 225,000(6)
Equity Awards
Unvested Restricted Stock $ 229,842(7)
Other Benefits
Welfare Benefits $ 64,063(8)
Company Car $ 22,500(9)
Outplacement $ 12,000(10)
Total $ 1,557,557
(1) Reflects base salary continuation with monthly installments of $33,333.33 paid from November 30, 2008 through January 30, 2010.
(2) Reflects bonus continuation with monthly installments of $7,600 paid from December 30, 2008 through January 30, 2010.
(3) Reflects MIP bonus earned in Fiscal 2008 and paid in December 2008.
(4) Reflects cash-based LTIP award earned in Fiscal 2008 and paid in December 2008.
(5) Reflects 17 days of unused vacation time paid in 2008.
(6) Reflects additional cash award made to executive in accordance with such executive’s separation agreement.
(7) Reflects the total market value of all unvested restricted stock at termination. The restricted stock will continue to vest in accordance with the vesting
schedules set forth in the applicable award agreements. The value is calculated using the stock price at September 30, 2008 ($1.39 per share).
(8) Reflects health and welfare benefit continuation over a 15 month period. Benefit plans include: medical and dental insurance, life insurance, supplemental
executive life insurance, long-term disability insurance and supplemental long-term disability insurance.
(9) The Company will continue to provide the executive’s car allowance of $1,500 per month until January 30, 2010.
(10) Outplacement services will be provided for a period of six months, up to the amount shown.
Director Compensation Table
The Compensation Committee is responsible for approving, subject to review by the Board of Directors as a whole, compensation programs for our
non-employee directors. In that function, the Compensation Committee considers market data regarding director compensation and evaluates the Company’s
director compensation practices in light of that data and the characteristics of the Company as a whole.
For Fiscal 2008, directors received an annual cash retainer of $60,000. The chair of the Audit Committee received an additional annual retainer of $10,000 and
the chair of the Nominating and Corporate Governance Committee and the chair of the Compensation Committee received an additional annual retainer of
$5,000. The non-employee chairman of the Board of Directors receives an additional annual retainer of $70,000. Directors also receive $1,500 for each Board of
Directors meeting attended ($750 if they participated telephonically) and $1,500 for each committee meeting attended ($750 if they participated telephonically).
The chairman receives an additional $1,000 for each Board of Directors meeting attended. Committee chairs receive an additional $1,000 per committee meeting
attended.
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Source: Spectrum Brands, Inc, 10-K, December 10, 2008