Waste Management 2013 Annual Report Download - page 56

James E. Trevathan, Jr.
Triggering Event Compensation Component Payout ($)
Death or Disability Severance Benefits
• Accelerated vesting of stock options ....... 1,726,072
• Payment of performance share units
(contingent on actual performance at end of
performance period) .................... 2,333,778
• Two times base salary as of the date of
termination (payable in bi-weekly
installments over a two-year period)(1) ...... 1,200,000
• Life insurance benefit paid by insurance
company (in the case of death) ........... 567,000
Total .................................. 5,826,850
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) ................. 2,220,000
• Continued coverage under benefit plans for
two years
• Health and welfare benefit plans ........ 23,040
• 401(k) contributions .................. 22,950
• Prorated payment of performance share units
(contingent on actual performance at end of
performance period) .................... 1,147,640
Total .................................. 3,413,630
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-
• Two times base salary plus target annual
cash bonus, paid in lump sum ............ 2,220,000
Control (Double Trigger) • Continued coverage under benefit plans for
two years
• Health and welfare benefit plans ........ 23,040
• 401(k) contributions .................. 22,950
• Accelerated vesting of stock options ....... 1,726,072
• Prorated accelerated payment of performance
share units ........................... 1,147,640
• Accelerated payment of performance share
units replacement grant ................. 1,186,138
• Prorated maximum annual cash bonus ...... 1,020,000
• Gross-up payment for any excise taxes(1) . . . 2,174,166
Total .................................. 9,520,006
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