{"id":40208,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/offer-for-compensation-fleming-companies-inc-and-bill-dowd.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"offer-for-compensation-fleming-companies-inc-and-bill-dowd","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/offer-for-compensation-fleming-companies-inc-and-bill-dowd.html","title":{"rendered":"Offer for Compensation &#8211; Fleming Companies Inc. and Bill Dowd"},"content":{"rendered":"<pre>\n                    OFFER FOR COMPENSATION\n                         BILL DOWD\n               PRESIDENT &amp; CHIEF OPERATING OFFICER\n                    FLEMING COMPANIES, INC.\n\n\n\n1.   Salary:             $475,000\n\n2.   Bonus Potential:    $356,250 (Same formula calculations as other\n                         executive officers.)\n\n3.   1995 Bonus:         Will receive proportionate amount that other\n                         executive officers would receive based on EVA\n                         calculations for year end results 1995, payable\n                         following board meeting in February, 1996.\n\n4.   Stock Options:      20,000 time vested shares, 40,000 performance\n                         shares, 16,000 restricted shares.\n\n5.   Deluxe Cadillac -   grade up from vehicles given to executive vice \n                         presidents.\n\n6.   Country Club membership - social membership only.\n\n7.   Relocation:         Fleming will reimburse Cott for an equal amount to\n                         what they paid to cover the sale and closing on\n                         his house.\n                         Pay moving costs.\n                         Up to 2% of Oklahoma City home value for closing.\n                         Temporary living in a company provided apartment.\n\n8.   Employment Agreement which takes effect in the event of a change in\n                         control.  \n\n9.   Severance Agreement - if terminated for any reason other than cause,\n                         pay one year's salary.\n\n10.  Health coverage - company to pay COBRA premium for two months.\n\n11.  Retirement\/SERP (see attached)\n\n<font size=\"2\">Age:                53\nEst. Soc. Sec.      $15,310\nYears to retire:    12\n\nQualified Annual Pension at age 65   $26,938\n\nTarget Total Pension          $260,000\nFleming Pension                (26,938)\nPrimary &amp; Spousal Soc. Sec.    (22,965)\nKraft Retirement               (50,000)\n\n                              $160,097\n\nRound to:                     $162,000\n\nPayable as Follows:\n               \n             Year      Age at Retirement   Annual SERP Payments\n\nAfter year     1         54                  0\n               2         55                  0\n               3         56                  0\n               4         57                  0\n               5         58                  0\n               6         59                  $81,000\n               7         60                   94,500\n               8         61                  108,000\n               9         62                  121,500\n               10        63                  135,000\n               11        64                  148,500\n               12        65                  162,000\n\n\nAgreed to and accepted this 7th day of July, 1995\n\nFleming Companies, Inc.\n\n\n     ROBERT E. STAUTH              BILL DOWD\n\nBy:  Robert E. Stauth              Bill Dowd\n     Chairman and CEO\n\n\n\n<\/font><\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[7547],"corporate_contracts_industries":[],"corporate_contracts_types":[9539,9544],"class_list":["post-40208","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-fleming-companies-inc","corporate_contracts_types-compensation","corporate_contracts_types-compensation__employment"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/40208","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=40208"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=40208"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=40208"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=40208"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}