appointing a new Chief Financial Officer with substantial public company business management, governance and financial experience
EX-10.52 10 l15839aexv10w52.txt EX-10.52 Exhibit 10.52 SUMMARY SHEET COMPENSATION AND BENEFITS FOR NAMED EXECUTIVE OFFICERS AND CERTAIN OTHER EXECUTIVE OFFICERS Effective September 9, 2005 The employment of Robert D. Walter, George L. Fotiades and Ronald K. Labrum with Cardinal Health, Inc. (the "Company") is governed by employment agreements dated February 1, 2004, February 1, 2004 (as amended February 4, 2005) and November 5, 2003, respectively, which agreements outline certain elements of each executive officer's compensation and benefits. David L. Schlotterbeck, Anthony J. Rucci and Jeffrey W. Henderson do not have employment agreements with the Company, but certain of Messrs. Schlotterbeck's and Henderson's compensation arrangements are set forth in a retention agreement dated August 31, 2004 and an offer letter dated April 13, 2005, respectively. Each executive officer is a party to equity incentive award agreements with the Company. In addition, Mr. Walter's employment agreement contains specific provisions regarding equity incentive awards. The following are additional details concerning compensation and benefits for the above executive officers. CURRENT CURRENT NAME AND ANNUAL ANNUAL CASH RETIREMENT OTHER GENERAL PRINCIPAL POSITION BASE SALARY INCENTIVE TARGET BENEFITS BENEFITS AND PERQUISITES (1) - ----------------------------- ----------- ---------------- ------------------------------- ------------------------------- Robert D. Walter $1,111,396 300% of annual Participation in the Company's Health, welfare and stock Chairman and Chief Executive base salary 401(k) Savings Plan and purchase benefits on same terms Officer Deferred Compensation Plan on generally available to Company same terms offered to all plan employees. participants, including Company match and annual contribution. Coverage under the Company's D&O liability insurance policy. Personal use of Company plane (including tax gross-up).(2) George L. Fotiades $ 790,000 140% of annual Participation in the Company's Health, welfare and stock President and Chief base salary 401(k) Savings Plan and purchase benefits on same terms Operating Officer Deferred Compensation Plan on generally available to Company same terms offered to all plan employees. participants, including Company match and annual contribution. Coverage under the Company's D&O liability insurance policy. Participation in the R.P. Personal use of Company plane Scherer Corporation Employees' (including tax gross-up as Retirement Income Plan (Plan approved by Human Resources and frozen as of December 31, Compensation Committee). 2002). Participation in the Supplemental Benefit Plan for Key Employees of R.P. Scherer Corporation (Plan frozen as of December 31, 2001). Ronald K. Labrum $ 575,000 100% of annual Participation in the Company's Health, welfare and stock Chairman and Chief Executive base salary 401(k) Savings Plan and purchase benefits on same terms Officer - Integrated Deferred Compensation Plan on generally available to Company Provider Solutions and same terms offered to all plan employees. Cardinal Health International participants, including Company match and annual contribution. Coverage under the Company's D&O liability insurance policy. Personal use of Company plane as authorized by the CEO or COO (including tax gross-up as approved by Human Resources and Compensation Committee).
- ---------------------- (1) See also the Summary Compensation Table in the Company's latest annual proxy statement for disclosure of other perquisites provided to certain of the executive officers. (2) For security reasons, the Company's Board-approved policy requires the Chairman and Chief Executive Officer to use Company aircraft for personal travel. CURRENT CURRENT NAME AND ANNUAL ANNUAL CASH RETIREMENT OTHER GENERAL PRINCIPAL POSITION BASE SALARY INCENTIVE TARGET BENEFITS BENEFITS AND PERQUISITES (1) - ----------------------------- ----------- ---------------- ------------------------------- ------------------------------- David L. Schlotterbeck $ 580,000 100% of annual Participation in the Company's Health, welfare and stock Chairman and Chief base salary 401(k) Savings Plan and purchase benefits on same terms Executive Officer - Deferred Compensation Plan on generally available to Company Clinical Technologies and same terms offered to all plan employees. Services participants, including Company match and annual contribution. Coverage under the Company's D&O liability insurance policy. Personal use of Company plane as authorized by the CEO or COO (including tax gross-up as approved by Human Resources and Compensation Committee). Anthony J. Rucci $ 500,000 90% of annual Participation in the Company's Health, welfare and stock Executive Vice President and base salary 401(k) Savings Plan and purchase benefits on same terms President of Strategic Deferred Compensation Plan on generally available to Company Corporate Resources same terms offered to all plan employees. participants, including Company match and annual contribution. Coverage under the Company's D&O liability insurance policy. Personal use of Company plane as authorized by the CEO or COO (including tax gross-up as approved by Human Resources and Compensation Committee). Jeffrey W. Henderson $ 550,000 100% of annual Participation in the Company's Health, welfare and stock Executive Vice President and base salary 401(k) Savings Plan and purchase benefits on same terms Chief Financial Officer Deferred Compensation Plan on generally available to Company same terms offered to all plan employees. participants, including Company match and annual contribution. Coverage under the Company's D&O liability insurance policy. Personal use of Company plane as authorized by the CEO or COO (including tax gross-up as approved by Human Resources and Compensation Committee).
