November 27, 2013 and 9,938 performance stock options awarded to Mr. Rallo on November 27, 2013. In fiscal 2017, on October 1, 2016, performance stock and performance stock options were forfeited for all grants made in fiscal 2015.
|
(3)
|
The amounts in the Non-Equity Incentive Plan Compensation column represent the annual cash incentive bonuses described under the section of this proxy statement entitled Annual Incentive Compensation. These annual cash bonuses were paid in fiscal 2018 for performance in fiscal 2017. In addition, the amounts in this column reflect the second half of the LiquidityOne Transformation metric payout from the fiscal year 2015 incentive plan awards which was earned upon the first legacy marketplace going live on the new LiquidityOne Transformation e-commerce platform, which occurred in fiscal year 2017. The following amounts were earned in fiscal 2017 in respect of the launch of LiquidityOne Transformation: Mr. Angrick: $70,000; Mr. Dudley: 20,250; Mr. Gravley: 36,000; and Mr. Rallo: $39,651. Please see the Company’s Proxy Statement filed on January 25, 2016 for additional details about the 2015 annual incentive award.
|
|
(4)
|
The payments listed for fiscal 2017 in the All Other Compensation column above reflect the following amounts and, unless noted below, are based upon the actual cost expended by the Company:
|
For Mr. Angrick, the amount shown includes: $14,492.40 for 401(k) matching contributions, $840.06 for short- and long-term disability insurance premium payments, $1,932.06 for group term life insurance premium payments and $27,468 for reimbursements in connection with the cost of a personal IRS audit stemming from the Companys corporate audit.
For Mr. Celaya, the amount shown includes: $11,082.73 for 401(k) matching contributions, $840.06 for short- and long-term disability insurance premium payments, and $1,932.06 for group term life insurance payments.
For Mr. Gravley, the amount shown includes: $11,711.59 for 401(k) matching contributions, $840.06 for short- and long-term disability insurance premium payments, and $1,932.06 for group term life insurance premium payments.
For Mr. Rallo, the amount shown includes: $12,135.20 for 401(k) matching contributions, $840.06 for short- and long-term disability insurance premium payments, and $1,932.06 for group term life insurance premium payments, $2,310 in imputed income due to the use of a Company car, and $2,851 for reimbursements in connection with the cost of a personal IRS audit stemming from the Companys corporate audit.
For Mr. Dudley, the amount shown includes: $10,629.46 for 401(k) matching contributions, $840.06 for short- and long-term disability insurance premium payments, $1,932.06 for group term life insurance payments, and $336,419 for severance.
|
(5)
|
Mr. Celaya received a bonus award equal to his target bonus opportunity pro-rated for the number of days employed during fiscal 2015.
|
Employment Agreements
We have entered into employment agreements with all of our named executive officers that provide for, among other things, the term of employment, compensation and benefits payable during the term of the agreement and certain compensation payable when an executives employment is terminated under certain conditions.
We also have confidentiality, non-competition and intellectual property agreements with the named executive officers. These agreements typically provide that the employee may not disclose or transfer any of our confidential information to any person, business entity or other organization without authorization from us, and that the employee may not, during his or her employment with us and for 24 months thereafter, hire or solicit any of our employees for employment with another person or entity or in any way interfere with the relationship we have with any of our employees, clients or other business relationships. Further, these agreements also typically provide that the employee may not, during his employment with us and for up to 24 months thereafter, compete with us. These agreements typically also provide that all ideas, designs, works and inventions made by the employee in the course of his or her employment with us are our exclusive property, and that the copyrights of all writings produced by the employee during the course of his or her work for us are the property of our Company.