GVHR » Topics » Paul E. Benz - SVP, Shared Services & Chief Information Officer
This excerpt taken from the GVHR DEF 14A filed Apr 12, 2007.
Benz SVP, Shared Services & Chief
Change in Control
w/o Cause or
Total Welfare Value(6)
on Excise Tax(8)
Mr. Benz is not eligible for retirement as of
December 31, 2006.
In the event of death, disability, retirement or termination
after a change in control, reflects no severance. In the event
of involuntary termination without cause, reflects one times
highest annual base salary
prior to termination.
Does not include any amount attributable to the 2006 annual
incentive award that was paid in March 2007 and disclosed in the
Summary Compensation Table.
Reflects fair market value of unvested
stock options based on a closing stock price of $23.69 on
December 29, 2006.
Reflects fair market value of unvested restricted stock based on
a closing stock price of $23.69 on December 29, 2006.
Represents the value attributable to continuation of health and
Represents outplacement benefits (in the case of change in
This calculation is an estimate for proxy disclosure purposes
only. Payments on an actual change in control may differ based
on factors such as transaction price, timing of employment
termination and payments, changes in
compensation, and reasonable compensation analyses. For purposes
of this calculation, we did not treat any portion of the
compensation as reasonable compensation for services rendered
prior to the change in control or attribute any value to
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