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KODAK'S NEW EXECUTIVE COMPENSATION PROGRAM INCREASES MANAGEMENT ACCOUNTABILITY

 ROCHESTER, N.Y., Jan. 13 /PRNewswire/ -- Eastman Kodak Company's (NYSE: EK) employee newspaper, Kodakery, reported this week that Kodak has implemented a new executive compensation program that requires substantial ownership of Kodak stock by the top 40 managers, and more directly links executive pay to company financial performance.
 The executive compensation program, beginning in 1993, "will increase accountability of Kodak executives and fundamentally change the way they are compensated," Kodak Chairman Kay R. Whitmore said in Kodakery.
 New shareownership guidelines require each of Kodak's top 40 executives to invest the equivalent of one to four times his or her base salary in Kodak stock. Whitmore said he has made a commitment to acquire Kodak shares equivalent in value to four times his annual base pay.
 "Five years from now, no senior manager of this company will own less than the equivalent of one year's base pay," Whitmore said. "The result: all our senior managers will act and behave like owners of this company, because they will be substantial owners."
 The new executive compensation program also changes the Management Annual Performance Plan (MAPP) for senior and middle managers. Previously, MAPP was based on a mix of personal, individual unit and/or corporate financial goals. MAPP compensation now will be based almost entirely on group and corporate financial performance with regard to revenues, earnings and cash flow.
 "The overall objective is to focus management's efforts on a common direction and to increase the pace of those efforts," Whitmore told Kodakery readers. "If we are successful, everyone will benefit. Kodak shareowners will see the value of their equity increase, and Kodak employees will work for a stronger company."
 -0- 1/13/93
 /CONTACT: Alan K. Brakoniecki of Eastman Kodak Company, 716-724-3057/
 (EK)


CO: Eastman Kodak Company ST: New York IN: SU:

KK -- CL010 -- 4421 01/13/93 13:14 EST
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Publication:PR Newswire
Date:Jan 13, 1993
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