Waste Management 2009 Annual Report Download - page 51
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Lawrence O’Donnell, III
Triggering Event Compensation Component Payout ($)
Death or Disability Severance Benefits
• Accelerated vesting of restricted stock units . . . . 533,691
• Payment of performance share units based on
actual performance at end of performance
period . . . . . . ......................... 4,532,332
• Two times base salary as of date of termination
(payable in bi-weekly installments over a two-
year period)(1) ......................... 1,550,576
• Life insurance benefit (in the case of Death) . . . 776,000
Total ................................. 7,392,599
Termination Without Cause by the Severance Benefits
Company or For Good Reason by the Employee • 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) . . . . . . ......................... 3,101,152
• Continued coverage under benefit plans for two
years
• Health and Welfare Benefit Plans . ......... 20,544
• Deferred Savings Plan . ................. 107,029
• 401(k). . . . . ......................... 22,050
• Prorated vesting of restricted stock units . ..... 511,106
• Prorated payment of performance share units . . . 2,730,935
Total ................................. 6,492,816
Termination Without Cause by the Company or
For Good Reason by the Employee Six Months
Prior to or Two Years Following a
Severance Benefits
• Three times base salary plus target bonus, paid
in lump sum . . ......................... 4,651,728
Change-in-Control (Double Trigger)* • Continued coverage under benefit plans for three
years
• Health and Welfare Benefit Plans . ......... 30,816
• Deferred Savings Plan . ................. 160,544
• 401(k). . . . . ......................... 33,075
• Accelerated vesting of restricted stock units(2) . . 533,691
• Accelerated payment of performance share
units(3) . . . . . ......................... 4,532,332
• Full maximum bonus, prorated to date of
termination. . . ......................... 1,550,576
• Gross-up payment for any excise taxes. . . ..... 2,814,666
Total ................................. 14,307,428
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