Company: KODK
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0001140361-25-013170
Chunk: 29

Company: EASTMAN KODAK CO
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 29
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za and Michaels) are eligible for an annual variable incentive program, known as Executive Compensation for Excellence and Leadership (EXCEL). Payouts under EXCEL are typically based on a formula that represents results achieved against Company performance metrics. Given our strategic focus to strengthen our balance sheet, no payments were made under EXCEL during 2024. Pursuant to his amended and restated employment agreement (the “CEO Employment Agreement”), Mr. Continenza was eligible for an annual incentive for 2024 valued at 125% of his annual salary, determined by the Committee in its discretion based

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on an evaluation of Mr. Continenza’s and the Company’s performance. For 2024, the Committee approved a payout to Mr. Continenza of $1,250,000, to be paid after the filing of the 2024 10-K to recognize strong performance in 2024. This included 2024 adjusted EBIDTA exceeding the Annual Commitment Plan, delivering continued profit and revenue growth and ongoing investment in growth opportunities in Advanced Materials and Chemicals, investing in the build out of Current Good Manufacturing Performance (cGMP) pharma facility which is scheduled for production in 2025 and successfully completing the tariff petition process with the U.S. International Trade Commission. For 2024, the Board approved bonus payments of $161,000 for Mr. Bullwinkle, $155,000 for Dr. Taber and $113,750 for Mr. Byrd in recognition of their strong performance in 2024 and contributions to adjusted EBIDTA exceeding the Annual Commitment Plan, supporting the delivery of continued profit and revenue growth in Advanced Materials and Chemicals and contributions towards the successful completion of the tariff petition process. Mr. Michaels is a participant in the Sales Executive Compensation Plan (SECP), which is an annual plan created to provide an incentive for putting forth maximum efforts toward continued growth and success of the Company with a focus on Total Print Revenue. Participation in SECP is limited and based on specific position titles. Any participant in SECP is not eligible to participate in EXCEL. The SECP performance metric for the 2024 performance year was Total Print Revenue. Minimum threshold performance is set at 85% and maximum at 125%. SECP pays out twice a year, in July of the performance year and January of the following year (once year-end results are available). Maximum payout opportunity amount in July is 85%. Full-year performance above the minimum threshold