EX-10
from 8-K
12 pages
1. You Will Serve as President and Chief Executive Officer, Reporting Directly to the Board, and Will Also Be Appointed to the Board. 2. You Will Receive a Base Salary of $1.1 Million Per Year, Which May Be Reviewed and Increased in Accordance With Wachovia’s Standard Policies but May Not Be Decreased. 3. Your Target Annual Bonus Will Be $6 Million, With Actual Bonuses Ranging Form $0 to $12 Million, Based on Goals Consistent With Those That Apply to Other Operating Committee Members. the Target Economic Value for Your Annual Long-Term Incentive Will Be $15 Million. Your Target Annual Bonus and Target Annual Long-Term Incentive May Be Reviewed and Changed From Time to Time in Accordance With Wachovia’s Standard Policies. 4. for 2008, Your Annual Long-Term Incentive Grant Will Be a Combination of Options and Performance Restricted Stock Awards (Rsas) That Will Be Granted on July 15, 2008 Pursuant to the Wachovia 2003 Stock Incentive Plan (As Amended and Restated), as Follows: • a Non-Qualified Stock Option to Purchase a Total of 1.5 Million Wachovia Shares, at a Price Per Share Equal to 100% of Fair Market Value (As Defined
12/34/56