Waste Management 2010 Annual Report Download - page 54
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Robert G. Simpson
Triggering Event Compensation Component Payout ($)
Death or Disability Severance Benefits
• Accelerated vesting of stock options . ........ 281,835
• Payment of performance share units at target
(contingent on actual performance at end of
performance period) . ................... 2,023,094
• Life insurance benefit (in the case of
Death)(2) ............................ 521,000
Total ................................. 2,825,929
Termination Without Cause by the Company or
For Good Reason by the Employee
Severance Benefits
• Two times base salary plus target annual cash
bonus (one-half payable in lump sum; one-half
payable in bi-weekly installments over a two-
year period) . . ........................ 1,966,198
• Continued coverage under health and welfare
benefit plans for two years . . . ............. 21,600
• Prorated payment of performance share units. . . 1,133,015
Total ................................. 3,120,813
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 . . ........................ 2,949,297
(Double Trigger) • Continued coverage under health and welfare
benefit plans for three years . . ............. 32,400
• Accelerated vesting of stock options . ........ 281,835
• Accelerated payment of performance share
units(3) .............................. 2,023,094
• Full maximum annual cash bonus, prorated to
date of termination . . ................... 903,388
• Gross-up payment for any excise taxes ....... 1,671,212
Total ................................. 7,861,226
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