KFT » Topics » Overview

This excerpt taken from the KFT DEF 14A filed Mar 31, 2009.

Overview

There are no material differences in compensation policies with respect to each named executive officer. We designed each of the named executive officer’s target compensation levels to be at or near the Compensation Survey Group’s size-adjusted median.

 

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Many of the compensation actions taken in 2008 for the named executive officers were to position target total compensation closer to the size-adjusted median of the Compensation Survey Group. Based on compensation actions taken for each of the named executive officers in 2008, target total compensation for each of them remains below the size-adjusted median of the Compensation Survey Group, based on the latest available data reported by Hewitt.

This excerpt taken from the KFT DEF 14A filed Mar 26, 2008.

Overview

There are no material differences in compensation policies with respect to each named executive officer, with the exception of Mr. Khosla, whose compensation is higher due to benefits received in connection with his relocation and localization from New Zealand to the United States, and Mr. Vogelsang, whose compensation appears higher due to tax equalization payments associated with his international assignment in the United States. We designed each of the named executive officer’s target compensation levels to be at the Compensation Survey Group’s size-adjusted median. Compensation levels for the chief executive officer position at the companies in the Compensation Survey Group generally exceed pay levels for other named executive officers. Similarly, Ms. Rosenfeld’s compensation also exceeds that of our other named executive officers.

Many of the compensation actions taken in 2007 for the named executive officers were to position target total compensation closer to the size-adjusted median of the Compensation Survey Group. Due to the change in our corporate structure in early 2007, specifically transitioning from a subsidiary of Altria to a free-standing, independent company, the roles of several senior executive officers were expanded. As a result, target total compensation for those senior executive officers was increased.

Based on actual compensation actions taken for each of the named executive officers in 2007, target total compensation for each of them remained slightly below the size-adjusted median for their respective positions. This reflects a combination of these named executive officers being newer in their roles as well as mixed business results in recent years that have a direct impact on base salary increases and annual and long-term incentive awards during that period.

Below are the specific compensation actions for each of the named executive officers in 2007.

This excerpt taken from the KFT DEF 14A filed Mar 13, 2007.

Overview

To focus its executives on operational performance that leads to increased long-term stockholder returns, and to address stockholder dilution concerns, long-term incentive awards are delivered to executives through a combination of cash-based long-term performance incentive awards (approximately 40% of the total long-term value) and restricted stock (approximately 60% of the total long-term value). In the past, the Committee has

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granted stock options to executives; however, as further discussed below, the Committee has not granted new stock options to any executive since 2001.

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