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GIS » Topics » Payments and Benefits Triggered in Fiscal 2009

This excerpt taken from the GIS DEF 14A filed Aug 10, 2009.
Payments and Benefits Triggered in Fiscal 2009
 
On August 1, 2008, Mr. Darcy retired as Executive Vice President, Worldwide Technology and Operations. In addition to his Earned Benefits, he received the following benefits, which are valued on the basis described above:
 
Vesting accelerated on 62,974 restricted stock units worth $4,054,896. Mr. Darcy was awarded a final financial counseling allowance, purchased his company vehicle at a discount from the wholesale value and became eligible for executive retiree medical benefits. The total value of these benefits was $696,240. The company vehicle discount is included in All Other Compensation in the Summary Compensation Table. Mr. Darcy has one year to use his financial counseling allowance before it expires.


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