grants were made in August 2007, concurrent with the approval of Mr. Carey's new employment agreement, which is discussed further at page 44. The purpose of
the stock grants is to provide incentive compensation for the three years beginning in January 2008 and no additional stock grants are currently anticipated for the remaining term of
Mr. Carey's employment agreement, which expires December 31, 2010. Therefore, the stock grants are not shown as part of the targeted 2007 compensation. Aggregate grants were 428,900
restricted stock units and 1,209,400 stock options. Mr. Carey previously received, in 2004, an award of 1,300,000 restricted stock units covering the four-year employment period
ending December 31, 2007. On a pro-rated basis, the annual target value for such award was approximately $5,675,000.
and target bonus after becoming Senior Vice President and Chief Financial Officer in October 2007; the target bonus amount was prorated for his prior position and pay.
and target bonus after becoming Executive Vice PresidentOperations in October 2007; the target bonus amount was prorated for his prior position and pay.
amounts shown in column (g) are based on the $23.97 per share value of the RSUs on the grant date, February 6, 2007.
EXECUTIVE AND DIRECTOR COMPENSATION
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