AEO » Topics » Kathy J. Savitt

This excerpt taken from the AEO DEF 14A filed May 4, 2009.
Kathy J. Savitt
 
                                         
          Resignation for
                   
    Death or
    Good
    Termination
    Termination
    Change in
 
    Disability     Reason     w/out Cause     for Cause     Control  
 
Cash Payments
                                       
Base (1)
  $ 675,000     $ 675,000     $ 675,000     $     $ 675,000  
Bonus (2)
    337,500       337,500       337,500             337,500  
LTICP (3)
    509,038       509,038       509,038             509,038  
Stock Option Vesting Acceleration
                             
Stock Award Vesting Acceleration
                             
                                         
Total
  $ 1,521,538     $ 1,521,538     $ 1,521,538     $     $ 1,521,538  
                                         
 
 
(1) Pursuant to Ms. Savitt’s separation agreement, amount represents one year of base salary.
 
(2) Pursuant to Ms. Savitt’s separation agreement, amount represents a bonus equal to six months salary.
 
(3) Pursuant to Ms. Savitt’s separation agreement, amount represents the balance in her LTICP account, including the loss during Fiscal 2008 of $(86,356).


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This excerpt taken from the AEO DEF 14A filed May 9, 2008.
Kathy J. Savitt
 
                                         
          Resignation for
                   
    Death or
    Good
    Termination
    Termination
    Change in
 
    Disability     Reason     w/out Cause     for Cause     Control  
 
Cash Payments
                                       
Base (1)
  $     $ 650,000     $ 650,000     $     $  
Bonus (2)
          325,000       325,000             317,558  
LTICP (3)
    432,228             595,543             595,543  
Stock Option Vesting Acceleration (4)
    222,094                         222,094  
Stock Award Vesting Acceleration (5)
    1,015,664                         1,015,664  
                                         
Total
  $ 1,669,986     $ 975,000     $ 1,570,543     $     $ 2,150,859  
                                         
 
(1) Pursuant to Ms. Savitt’s employment letter, amount represents one year of base salary.
 
(2) Pursuant to Ms. Savitt’s employment letter, amount represents six months base salary as the performance goals were met. In the event of a change in control, amount assumes that the Compensation Committee paid the annual incentive bonus based upon the performance goals being met.
 
(3) In the event of Ms. Savitt’s death or disability, amount represents the balance in her long term incentive account. In the event of a termination without cause or change in control, amount assumes that the Compensation Committee paid the LTI account balance, including the amount earned during Fiscal 2007 of $163,315.
 
(4) Amount represents value of all unvested portions of stock option awards that are outstanding.
 
(5) Amount represents the accelerated vesting of time-based outstanding restricted stock awards. Additionally, amount assumes that the Compensation Committee vested the outstanding restricted stock awards based upon the performance goals being met.


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