Kodak 2000 Annual Report Download - page 96

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24
Long-Term Incentive Plan
Each February the Executive Compensation and Development Committee approves a three-year performance
cycle under the Performance Stock Program. Participation in the program is limited to senior executives. The
program’s performance goal is total shareholder return equal to at least that earned by a company at the 50th
percentile in terms of total shareholder return within the Standard & Poor’s 500 Composite Stock Price Index.
After the close of a cycle, the Committee calculates the percentage earned of each participant’s target award.
No awards are paid unless the performance goal is achieved. Fifty percent of the target award is earned if the
performance goal is achieved. One hundred percent is earned if total shareholder return for the cycle equals
that of a company at the 60th percentile within the Standard & Poor’s 500 Composite Stock Price Index.
The Committee has the discretion to reduce or eliminate the award earned by any participant based upon any
criteria it deems appropriate. Awards are paid in the form of restricted stock, which restrictions lapse at age
60. The table below shows the threshold (i.e., attainment of the performance goal), target and maximum
number of shares for the named executive officers for each cycle. No awards were earned for the 1998-2000
performance cycle as shown in the “LTIP Payouts” column of the Summary Compensation Table shown on
page 20.
LONG-TERM INCENTIVE PLAN – AWARDS IN LAST FISCAL YEAR
Estimated Future Payouts Under
Non-Stock Price-Based Plans
Number of Performance or
Shares, Units Other Period Until Threshold Target Maximum
Name or Other Rights Maturation or Payout # of Shares # of Shares # of Shares
G. M. C. Fisher N/A 1998-2000 6,750 13,500 20,250
1999-2001* 6,667 13,334 20,000
2000-2002* 3,334 6,661 10,000
D. A. Carp N/A 1998-2000 4,250 8,500 12,750
1999-2001 4,250 8,500 12,750
2000-2002 10,000 20,000 30,000
R. H. Brust N/A 1998-2000* 875 1,750 2,625
1999-2001* 1,750 3,500 5,250
2000-2002 2,625 5,250 7,875
E. L. Steenburgh N/A 1998-2000* 3,014 6,027 9,041
1999-2001 3,400 6,800 10,200
2000-2002 3,400 6,800 10,200
M. M. Coyne N/A 1998-2000 1,650 3,300 4,950
1999-2001 1,813 3,625 5,438
2000-2002 1,813 3,625 5,438
M. P. Morley N/A 1998-2000 1,813 3,625 5,438
1999-2001 1,813 3,625 5,438
2000-2002 1,813 3,625 5,438
* Individuals who participate for less than the full performance cycle are eligible for a prorated award based
upon the length of their participation.