Staples 2013 Annual Report Download - page 65

Download and view the complete annual report

Please find page 65 of the 2013 Staples annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 185

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185

56
Section 409A under the Internal Revenue Code. Executives may also contribute a portion of their Long Term Cash Incentive Plan
payments; however, they will not receive matching contributions from us.
Potential Payments Upon Termination or Change-in-Control
The tables below show the estimated incremental value transfer to each current named executive officer under various
scenarios relating to a termination of employment. The tables below and the discussion that follows assume that such termination
occurred on February 1, 2014. The actual amounts that would be paid to any named executive officer can only be determined at
the time of an actual termination of employment and would vary from those listed below. The estimated amounts listed below are
in addition to any retirement, welfare and other benefits that are available to associates generally.
FISCAL 2013 TERMINATION SCENARIOS*
Retirement
or
Resignation
Termination
for Cause
Termination
Without
Cause
Resignation
for Good
Reason
Termination
Following
Change-in-
Control
Change-
in-Control
Only
Death or
Disability (1)
Ronald L. Sargent
Cash Severance Payment $ $ $ 3,209,929 $ 3,209,929 $ 4,814,894 $ $
Value of Accelerated Vesting
of Incentive
Compensation $ 80,347 $ $ 4,756,174 $ 80,347 $ 17,361,603 $ 20,087 $ 17,361,603
Continuation of Benefits $ 14,550 $ 14,550 $ 782,455 $ 782,455 $ 1,174,711 $ $ 1,195,838
Survivor Death Benefit
Payout $ — $ — $ — $ — $ — $ — $ 8,213,400 (2)
Excise and 409A Tax
(Grossed-up) $ — $ — $ — $ — $ — $ — $ (3)
Total $ 94,897 $ 14,550 $ 8,748,558 $ 4,072,731 $ 23,351,208 $ 20,087 $ 26,770,841