Waste Management 2011 Annual Report Download - page 57

Steven C. Preston
Triggering Event Compensation Component Payout ($)
Death or Disability Severance Benefits
• Accelerated vesting of stock
options .............................. 263,955
Total .................................. 263,955
Termination Without Cause by the Company or Severance Benefits
For Good Reason by the Employee • 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) ................. 2,180,000
• Continued coverage under health and welfare
benefit plans for two years ............... 22,200
Total .................................. 2,202,200
Termination Without Cause by the Company or Severance Benefits
For Good Reason by the Employee Six Months
Prior to or Two Years Following a
Change-in-Control (Double Trigger)
• 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) ................. 2,180,000
• Continued coverage under health and welfare
benefit plans for two years ............... 22,200
• Accelerated vesting of stock
options .............................. 263,955
• Prorated maximum annual cash
bonus ............................... 510,000
Total .................................. 2,976,155
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