Summary
Republic Services, Inc. (RSG) filed an 8-K on October 29, 2010, primarily to announce amendments to its Deferred Compensation Plan, effective January 1, 2010. These changes are significant for executive compensation arrangements and aim to enhance flexibility for eligible participants. The key amendments include allowing compensation earned under the company's Synergy Incentive Plan (part of the Executive Incentive Plan) to be deferred. Additionally, the minimum deferral amount for eligible participants was adjusted from a fixed $5,000 to a more flexible 1% of their total eligible compensation, encompassing base salary, bonus, commissions, and long-term incentive plan earnings. These adjustments provide executives with more discretion in managing their compensation.
Key Highlights
- 1Amendment and restatement of the Republic Services, Inc. Deferred Compensation Plan, effective January 1, 2010.
- 2Allows deferral of amounts earned under the Synergy Incentive Plan.
- 3Lowers the minimum deferral threshold to 1% of eligible compensation.
- 4Eligible compensation for deferral includes base salary, bonus, commissions, and long-term incentive plan earnings.
- 5The filing clarifies executive compensation practices and provides increased flexibility for deferring compensation.
- 6The amended plan document is filed as Exhibit 10.1.