Waste Management 2009 Annual Report Download - page 50
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Potential Consideration upon Termination of Employment:
David P. Steiner
Triggering Event Compensation Component Payout ($)
Death or Disability Severance Benefits
• Accelerated vesting of restricted stock units . . . 1,257,969
• Payment of performance share units based on
actual performance at end of performance
period . . ............................ 10,995,756
• Two times base salary as of date of termination
(payable in bi-weekly installments over a two-
year period)(1) . ....................... 2,150,000
• Life insurance benefit (in the case of Death). . . 1,075,000
Total ................................ 15,478,725
Termination Without Cause by the Company or
For Good Reason by the Employee
Severance Benefits
• Two times base salary plus target annual bonus
(one-half payable in lump sum; one-half
payable in bi-weekly installments over a two-
year period) . . . ....................... 4,622,500
• Continued coverage under health and welfare
benefit plans for two years . . . ............ 20,544
• Prorated vesting of restricted stock units ..... 1,204,819
• Prorated payment of performance share units . . 6,589,772
Total ................................ 12,437,635
Termination Without Cause by the Company or For
Good Reason by the Employee Six Months Prior to
or Two Years Following a Change-in-Control
Severance Benefits
• Three times base salary plus target bonus, paid
in lump sum . . . ....................... 6,933,750
(Double Trigger)* • Continued coverage under health and welfare
benefit plans for three years . . ............ 30,816
• Accelerated vesting of restricted stock
units(2) . ............................ 1,257,969
• Accelerated payment of performance share
units(3) . ............................ 10,995,756
• Full maximum bonus, prorated to date of
termination . . . ....................... 2,472,500
• Gross-up payment for any excise taxes ....... 5,266,093
Total ................................ 26,956,884
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