IMAX CORPORATION EXHIBIT 10.39 RobertD. Lister Renewal Term Sheet January 23, 2014
EX-10.39 14 d679676dex1039.htm EX-10.39 EX-10.39 IMAX CORPORATION
EXHIBIT 10.39
Robert D. Lister Renewal – Term Sheet
January 23, 2014
Term: 4 years
| | |
| Base Salary: | | 2014 – $625k |
| | 2015 – $650k |
| | 2016 – $675k |
| | 2017 – $700k |
Bonus Target: 60%
LTI: $1.4M/annum = $5.6M total grant value
| | • | | Four annual grants of $1.4M (first grant after current blackout ends) |
| | • | | 2014: 50% stock options/50% RSU’s |
| | • | | 2015: 40% stock options/60% RSU’s |
| | • | | 2016: 33% stock options/67% RSU’s |
| | • | | 2017: 25% stock options/75% RSU’s |
| | • | | 4-year vesting (1/4 each year) |
| | • | | Upon termination after CIC, to the extent total value of vested options & RSU’s from these grants is less than $5.6M, severance will be increased by difference. |
Other Changes
| | • | | Termination/Severance: Definition of Termination without Cause will no longer include a resignation in the event RLG ceases to be CEO. |
| | • | | Change in Control: Second trigger on vesting of options/RSU’s will no longer be BJW & RLG ceasing to be co-CEOs, but will be limited to (i) termination without cause, (ii) diminution of title or responsibilities (including no longer reporting directly to CEO), or (iii) relocation. |
