Alaska Airlines and Horizon Air 2007 Annual Report Download - page 61

(3) The amount reported in Column (h) of the Summary Compensation Table above reflects the year-over-year
change in present value of accumulated benefits determined as of December 31 of each year for the
Retirement Plan for Salaried Employees and the Officers Supplementary Retirement Plan as well as earnings
on each Named Executive Officer’s account under the Nonqualified Deferred Compensation Plan.
(4) The following table presents detailed information on the types and amounts of compensation reported for the
Named Executive Officers in Column (i) of the Summary Compensation Table. For Column (i), each perquisite
and other personal benefit is included in the total and identified and, if it exceeds the greater of $25,000 or
10% of the total amount of perquisites and other benefits for that officer, is quantified in the table below. All
reimbursements of taxes with respect to perquisites and other benefits are identified and quantified. Also
included in the total for Column (i) are: the Company’s incremental cost of providing flight benefits; Alaska
Airlines Board Room membership; gas allowance; annual physical; hotel allowance; financial, tax and estate
planning; and accidental death and dismemberment insurance premiums.
Name
Company
Contribution
to 401(k)
Account
Term Life
Insurance
Premiums
(and Taxes Paid)
Medical
Insurance
Premiums (and
Taxes Paid)
Automobile
Expense
Travel Taxes
Paid
William S. Ayer $ 6,750 $1,164 ($667) $9,899 ($0) $20,800 $ 8,269
Bradley D. Tilden $ 6,750 $603 ($346) $9,899 ($0) $17,800 $15,906
Gregg A. Saretsky $ 6,750 $650 ($372) $9,899 ($0) $18,400 $16,451
Kevin P. Finan $ 6,750 $1,854 ($1,063) $9,899 ($0) $17,800 $26,584
Jeffrey D. Pinneo $15,500 $690 ($395) $5,729 ($3,981) $17,110 $13,127
(5) Mr. Finan retired on January 1, 2008. The amount reported in Column (i) for Mr. Finan also includes payments
made pursuant to his Employment, Retirement and Non-Compete Agreement with the Company dated April 25,
2007. Mr. Finan received a retirement bonus payment of $200,000 plus $30,000 in payment of all accrued
and unused vacation pursuant to the agreement.
(6) In 2007, Mr. Pinneo became partially vested under the Supplementary Retirement Plan, and earned sufficient
service under the Plan to accrue a benefit payable at his Normal Retirement Age. As a result of these changes,
$802,627 is included in the Summary Compensation Table in Column (h) as the Change in Pension Value and
is attributable to Mr. Pinneo’s vesting and service accruals under the Supplementary Retirement Plan during
2007. This accrual also includes Mr. Pinneo’s nonqualified benefits described in the paragraph below. The
Supplementary Retirement Plan and the nonqualified benefits are payable over the long-term after Mr. Pinneo
retires from the Company.
Regarding Mr. Pinneo’s nonqualified benefits, when Mr. Pinneo was elected President and CEO of Horizon Air
in 2002, he was 100% vested under the Salaried Retirement Plan on account of prior service at Alaska. At that
time, Horizon Air, which does not have a plan similar to the Salaried Retirement Plan, agreed to supplement
his benefits to ensure that his retirement benefit will be equivalent to what he would have received had he
been participating in the Salaried Retirement Plan during his tenure as President and CEO of Horizon Air.
ŠProxy
45