Invacare CFO strikes it rich

Friday, February 29, 2008

ATLANTA - Invacare's CFO Greg Thompson will do just fine in his new position as CFO of Georgia Gulf Corp.
According to Georgia Gulf's report to the Securities and Exchange Commission: Thompson will be paid an annual base salary of $430,000. He'll have an annual bonus target of $279,000 (65% of his base salary)--with a minimum payout of $167,700 (60%) and a maximum payout of $559,000 (200%), depending on whether the company meets certain financial goals.
Thompson also will get a combination of restricted stock and stock options with a target value of $500,000 when he joins the company. He'll be given a car, receive a "supplemental retirement benefit," be reimbursed for relocation expenses, and receive a cash relocation bonus of $50,000.
Additionally, if he is terminated within two years of his employment date, he is entitled to his base salary and bonus until the second anniversary of his employment date unless he is terminated for cause (as defined in the company's change of control severance plan).