Comdisco Executive Officer Compensation and Benefits Summary for Fiscal Year 2000

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Summary

This document outlines the compensation and benefits for Comdisco's President and CEO, Nicholas K. Pontikes, and four other top executive officers for the fiscal year ending September 30, 2000. It details their annual salaries, bonuses, stock options, and long-term incentive awards. The agreement also explains the terms of stock option grants, including exercise prices and vesting, as well as the company's retirement plan contributions. The summary provides a transparent overview of executive pay, option exercises, and potential future payouts under long-term incentive plans.

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EX-10.14 3 0003.txt MANAGEMENT COMPENSATION COMDISCO EXECUTIVE OFFICER COMPENSATION AND BENEFITS SUMMARY COMPENSATION TABLE This table shows the compensation paid to (i) Nicholas K. Pontikes, our President and Chief Executive Officer, and (ii) our four other most highly compensated executive officers serving as of September 30, 2000. The persons named in this table and in this section are referred to as the "named executive officers".
- ------------------------------------------------------------------------------------------------------------- Annual Compensation Long-Term Compensation ------------------------------------------------------------------------- Awards Payouts ------------------------------------------------- Name and Principal Year Salary Bonus Securities Long- All Other Position Underlying Term Compensation Options Incentive (shares) Payouts - ------------------------------------------------------------------------------------------------------------- Nicholas K. Pontikes 2000 $400,000 $ 0 224,719 $ 0 $5,289 President and Chief 1999 450,000 81,250 150,000 $170,129 5,896 Executive Officer 1998 325,000 325,000 687,210 349,350 6,909 Thomas Flohr 2000 400,000 400,000 0 0 0 Senior Vice President 1999 300,000 300,000 120,000 150,971 0 1998 300,000 227,000 323,530 0 0 Michael F. Herman 2000 217,000 332,000 47,833 53,150 5,289 President CES 1999 229,800 171,875 175,000 0 5 ###-###-#### 184,800 219,000 149,460 0 6,909 William N. Pontikes 2000 235,000 235,000 53,237 71,850 5,289 Executive Vice 1999 255,000 63,750 24,000 265,129 5,896 President 1998 230,000 230,000 240,710 339,350 6,909 John J. Vosicky 2000 265,000 265,000 24,345 81,850 5,289 Executive Vice 1999 260,000 65,000 18,000 290,129 5,896 President 1998 240,000 215,000 101,700 359,350 6,909 & Chief Financial Officer - ------------------------------------------------------------------------------------------------------------- Amounts of "All Other Compensation" are amounts contributed by Comdisco under the Comdisco Retirement Plan Trust Agreement, effective April 1, 1998 (formerly known as the Comdisco Profit Sharing Plan and Trust). Amounts reflect options granted pursuant to Comdisco's Shared Investment Plan (SIP) on Sunday, February 1, 1998 with a one-day term and an exercise price based on the closing price of the New York Stock Exchange on Friday, January 30, 1998. The options were exercised on the date of grant by the named executive officers. Under the terms of the voluntary plan, the participants took out personal full-recourse loans to fund their exercise of the options to purchase Common Stock at $17.3438 per share, the closing price on January 30, 1998. The loans borrowed from a commercial bank, are the personal obligation of the participants. Comdisco has agreed to guarantee repayment to the bank in the event of a default by a participant. Pursuant to the SIP, Comdisco received approximately $109 million in cash from 106 members of Comdisco's senior management team who collectively purchased over 6 million shares of Comdisco common stock.
OPTION GRANTS IN LAST FISCAL YEAR
This table presents additional information concerning the options shown in the Summary Compensation Table for fiscal year 2000. - ----------------------------------------------------------------------------------------------------------------- Individual Grants Potential Realizable Value at Assumed Annual Rates of Stock Price Appreciation for Option Term --------------------------------- - ----------------------------------------------------------------------------------------------------------------- % of Total Options / SARs Number of Securities Granted to Exercise Underlying Options/ Employees or Base SARs Granted in Fiscal Price Expiration Name (#) 2000 ($/Sh) Date 0% 5% 10% - ----------------------------------------------------------------------------------------------------------------- Nicholas K. Pontikes 192,616 13.33 $18.6875 10/01/09 -0- $2,263,713 $5,736,694 32,103 2.22 $19.0625 09/29/10 -0- 384,861 975,312 Thomas Flohr -0- -0- -0- -0- -0- -0- -0- -0- -0- -0- -0- -0- -0- -0- Michael F. Herman 31,782 2.20 $18.6875 10/01/09 -0- 373,517 946,565 16,051 1.11 $19.0625 09/29/10 -0- 192,424 487,641 William N. Pontikes 38,523 2.67 $18.6875 10/01/09 -0- 452,740 1,147,333 14,714 1.02 $19.0625 09/29/10 -0- 176,396 447,022 John J. Vosicky 9,631 .67 $18.6875 10/01/09 -0- 113,188 286,841 14,714 1.02 $19.0625 09/29/10 -0- 176,396 447,022 - ----------------------------------------------------------------------------------------------------------------- Reflects options issued in lieu of cash compensation pursuant to the "Cash-to-Option Alternative" election referenced in the "COMPENSATION COMMITTEE REPORT."
We have included amounts under the columns labeled "5%" and "10%" pursuant to certain rules promulgated by the SEC and those amounts are not intended to forecast future appreciation, if any, in the price of our common stock. Such amounts are based on the assumption that the named executive officers hold the options granted for their full term. The actual value of the options will vary in accordance with the market price of our common stock. The column headed "0%" is included to demonstrate that the options were granted at fair market value and optionees will not recognize any gain without an increase in the stock price, and any increase will benefit all stockholders proportionately. AGGREGATED OPTION EXERCISES IN LAST FISCAL YEAR AND FISCAL YEAR END VALUE This table contains information with respect to the named executive officers concerning the exercise of options during the fiscal year 2000 and unexercised options held as of the end of fiscal year 2000.
- ------------------------------------------------------------------------------------------------------------------- Number of Value Total Number of Shares Total Value of Unexercised, Shares Underlying Unexercised Acquired Options Held at in-the-Money Options Held On September 30, 2000 at September 30, 2000 ------------------------------------------------------------ Name Exercise Realized Exercisable Unexercisable Exercisable Unexercisable - ------------------------------------------------------------------------------------------------------------------- Nicholas K. Pontikes -0- -0- 585,866 353,789 6,343,752 638,920 Thomas Flohr -0- -0- 837,716 123,844 8,675,767 515,650 Michael F. Herman 47,825 1,631,239 227,785 228,987 1,972,615 438,057 William N. Pontikes -0- -0- 294,451 85,474 2,802,768 158,183 John J. Vosicky 129,238 5,689,623 282,815 48,912 3,006,601 117,669 - ------------------------------------------------------------------------------------------------------------------- Based on the closing price of our common stock, $19.0625, on September 29,2000.
LONG TERM INCENTIVE PLAN (LTIP) AWARDS This table provides information on the Performance Unit Awards granted during the fiscal year ended September 30, 2000 under our 1995 Long-Term Stock Ownership Incentive Plan to the named executive officers.
- ------------------------------------------------------------------------------------------------------------------ Estimated Future Payouts under Non-Stock Price-Based Plans - ------------------------------------------------------------------------------------------------------------------ Performance or Other Number Period Until Maturation Name Of Units or Payout Threshold Target Maximum - ------------------------------- ---------------- -------------------------- ------------- ----------- ------------ Nicholas K. Pontikes 400 September 30, 2002 200,000 400,000 1,200,000 Thomas Flohr 133 September 30, 2002 66,500 133,000 399,000 Michael F. Herman 200 September 30, 2002 100,000 200,000 600,000 William N. Pontikes 183 September 30, 2002 91,500 183,000 549,000 John J. Vosicky 183 September 30, 2002 91,500 183,000 549,000 - ------------------------------- ---------------- -------------------------- ------------- ----------- ------------ The target performance objective is that our total shareholder return, the sum of the stock price appreciation plus dividends (reinvested), be ranked at or above the sixtieth percentile of the total shareholder return of all companies in the S&P 500 for the period running from October 1, 1999 through September 30, 2002. The threshold performance objective is a fiftieth percentile ranking. If the actual ranking is less than the fiftieth percentile, no compensation will be paid under these awards.