Waste Management 2014 Annual Report Download - page 56

Jeff M. Harris
Triggering Event Compensation Component Payout ($)
Death or Disability Severance Benefits
• Accelerated vesting of stock options ....... 1,337,489
• Payment of performance share units
(contingent on actual performance at end of
performance period) .................... 2,344,349
• Accelerated payment of restricted stock
units ................................ 311,051
• Life insurance benefit paid by insurance
company (in the case of death) ........... 515,000
Total .................................. 4,507,889
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) ................. 1,981,613
• Continued coverage under health and welfare
benefit plans for two years ............... 24,600
• Prorated payment of performance share units
(contingent on actual performance at end of
performance period) .................... 1,180,617
• Prorated vesting of restricted stock units ..... 223,293
Total .................................. 3,410,123
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-
• Three times base salary plus target annual
cash bonus, paid in lump sum(1) ........... 2,972,419
Control (Double Trigger) • Continued coverage under health and welfare
benefit plans for three years .............. 36,900
• Accelerated vesting of stock options ....... 1,337,489
• Prorated accelerated payment of performance
share units ........................... 1,180,617
• Accelerated payment of performance share
units replacement grant ................. 1,163,732
• Accelerated vesting of restricted stock
units ................................ 311,051
• Prorated maximum annual cash bonus ...... 849,263
Total .................................. 7,851,471
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