JNC » Topics » William Adams IV

This excerpt taken from the JNC DEF 14A filed Apr 6, 2007.
William Adams IV
 
The following table shows the potential payments upon termination with or without a change in control for named executive officer William Adams, assuming such events occurred on December 31, 2006. A description of the plans providing benefits specified in the table below are described in more detail beginning on page 40.
 
                                 
    Involuntary Not for Cause or
             
    Good Reason Termination              
Executive Benefits and
  No Change
    In Connection with
             
Payments Upon Termination
 
in Control
   
Change in Control
   
Death
   
Disability
 
 
Salary Continuation
  $ 562,500     $ 562,500     $ 562,500     $ 562,500  
Accelerated Vesting of Stock Options
    3,067,532       3,151,862       3,067,532       3,067,532  
Accelerated Vesting of Restricted Stock
    916,772       982,020       916,772       916,772  
Post-termination Health Care
    25,182       25,182       25,182       25,182  
                                 
Total:
    4,571,986       4,721,564       4,571,986       4,571,986  
                                 
 
Pursuant to the terms of the Company’s equity incentive plans and the awards granted thereunder, the Named Executive Officers receive the accelerated vesting of certain equity awards in the event of a Change in Control without termination of employment. The value of this accelerated vesting, assuming a Change in Control as of December 31, 2006, would have been as follows: Mr. Schwertfeger — $24,998,958; Mr. Amboian — $21,016,433; Ms. Wilson — $2,777,865; Mr. Berkshire — $3,679,456; Mr. Brown — $2,399,102; and Mr. Adams — $3,679,456. In addition, upon a Change in Control, all amounts deferred under the deferred bonus plan, including the amounts for Messrs. Amboian, Berkshire, and Adams set forth in the table under Non-Qualified Deferred Compensation, would be paid in a lump sum to plan participants in accordance with the terms of the plan. None of Mr. Richter’s awards would be accelerated upon a Change of Control without termination of employment.
 
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