AbbVie 2014 Annual Report Download - page 135

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DIRECTOR COMPENSATION
AbbVie employees are not compensated for serving on the board or board committees. AbbVie’s non-employee
directors are compensated for their service under the AbbVie Non-Employee Directors’ Fee Plan and the AbbVie 2013
Incentive Stock Program.
The following table sets forth the non-employee directors’ 2014 compensation.
R. Alpern $126,000 $142,954 $0 $4,298 $15,000 $288,252
R. Austin 144,000 142,954 0 0 3,351 290,305
W. Burnside 132,000 142,954 0 0 25,000 299,954
E. Liddy 138,000 142,954 0 0 0 280,954
E. Rapp 132,000 142,954 0 0 25,000 299,954
R. Roberts 138,000 142,954 0 0 0 280,954
G. Tilton 138,000 142,954 0 0 25,000 305,954
F. Waddell 132,000 142,954 0 0 25,000 299,954
(1) Under the AbbVie Non-Employee Directors’ Fee Plan, non-employee directors earn $10,500 for each month of
service as a director and $1,000 for each month of service as a chair of a board committee, other than the chair of
the audit committee. The chair of the audit committee receives $1,500 for each month of service as a chair of that
committee and the other members of the audit committee receive $500 for each month of service as a committee
member.
Fees earned under the AbbVie Non-Employee Directors’ Fee Plan are, at the director’s election, paid in cash,
delivered in the form of vested non-qualified stock options (based on an independent appraisal of their fair value),
deferred until retirement (as an unfunded AbbVie obligation), or paid currently into an individual grantor trust
established by the director. The distribution of deferred fees and amounts held in a director’s grantor trust
generally commences at the later of when the director reaches age 65 or upon retirement from the board of
directors. The director may elect to have fees deposited in a trust and credited to a stock equivalent account that
earns the same return as if the fees were invested in AbbVie stock or to a guaranteed interest account. If
necessary, AbbVie contributes funds to a director’s trust so that as of year end the stock equivalent account
balance (net of taxes) is not less than seventy-five percent of the market value of the related AbbVie common stock
at year end.
(2) The amounts in this column represent the aggregate grant date fair value of the awards in accordance with
Financial Accounting Standards Board Accounting Standards Codification (ASC) Topic 718. AbbVie determines the
grant date fair value of stock unit awards by multiplying the number of restricted stock units granted by the
average of the high and low market prices of one share of AbbVie common stock on the award grant date.
In addition to the fees described in footnote (1), each non-employee director elected to or serving on the board of
directors at the annual stockholder meeting receives under the AbbVie 2013 Incentive Stock Program vested
restricted stock units with a value of $143,000 (rounded down). In 2014, this was 2,764 units. The non-employee
2015 Proxy Statement 15
Change in
Pension Value
and
Nonqualified
Fees Deferred
Earned or Stock Option Compensation All Other
Paid in Cash Awards Awards Earnings Compensation Total
Name ($)(1) ($)(2) ($)(3) ($)(4) ($)(5) ($)