Cincinnati Bell 2009 Annual Report Download - page 54

(c) Represents the amount earned in 2009 and paid in 2010 to Mr. Cassidy for the 2009 performance period related to the cash-payment
performance award granted in January 2009 for the 2009 — 2011 performance cycle.
(d) The amounts shown in this column in 2009 and 2008 for Messrs. Cassidy, Wojtaszek, Ross and Wilson and in 2007 for Messrs. Cassidy,
Ross and Wilson represent the one-year increase in the value of their qualified defined benefit plan and nonqualified excess plan for
2009, 2008 and 2007, respectively, projected forward to age 65 for each executive with interest credited at 3.5% which is the rate a
terminated participant would be given and then discounted back to the respective year at the discount rate (5.50% for 2009, 6.25% for
2008 and 6.20% for 2007) required under Accounting Standards Codification Topic 960. Mr. Cassidy’s total increase also includes
$1,197,942 in 2009, $954,765 in 2008 and $722,311 in 2007, which represents the respective yearly changes in the actuarial present
value of his accumulated benefit under the SERP. The increase in the amounts in 2009 compared to 2008 is substantially due to the
change in the discount rate as mentioned above. The Company froze its qualified pension plan for management employees in 2009;
therefore, Ms. Khoury is not entitled to any benefits under this plan. None of the executives receive any preferential treatment under the
Company’s retirement plans.
(e) The table below shows the components of the “All Other Compensation” column.
Name Year
401(k) Match
($) (1)
Flexible Perquisite
Program Reimbursements
($) (2)
Relocation
Expenses
($) (3)
Total “All Other
Compensation”
($)
John F. Cassidy .......... 2009 9,200 37,004 — 46,204
2008 9,000 40,986 — 49,986
2007 8,800 32,952 — 41,752
Gary J. Wojtaszek ........ 2009 7,402 17,743 14,542 39,687
2008 3,231 5,750 237,147 246,128
Brian A. Ross ............ 2009 9,200 23,000 — 32,200
2008 9,000 23,000 — 32,000
2007 8,800 22,825 — 31,625
Tara L. Khoury ........... 2009 763 6,900 — 7,663
Christopher J. Wilson ...... 2009 9,200 13,000 — 22,200
2008 9,000 13,000 — 22,000
2007 1,761 16,000 — 17,761
(1) Under the terms of the Cincinnati Bell Inc. Savings Retirement Plan, the Company’s matching contribution is equal to 100% on the
first 3% and 50% on the next 2% of contributions made to the plan by the participant. Eligible compensation includes base wages
plus any incentive paid to eligible participants. Since bonuses for 2008 results were paid in February 2009, each named executive,
except for Ms. Khoury who joined the company in March 2009 and Mr. Wojtaszek, received the maximum company matching
contribution of $9,200. Since Company matching contributions were suspended at the end of June 2009, the plan is subject to non-
discrimination testing that may require some portion of the executive’s contributions be returned to them. As of the date of the
proxy, such testing had not yet been completed.
(2) For more detail about the Company’s Flexible Perquisite Reimbursement Program, see the discussion in the Compensation
Disclosure and Analysis beginning on page 35. The following program benefits were utilized by the executives in 2009:
Mr. Cassidy — automobile allowance, legal/financial planning fees and club dues; Mr. Wojtaszek — automobile allowance and life
insurance premiums; Mr. Ross — automobile allowance, club dues, life insurance premiums, security system and legal/financial
planning fees; Ms. Khoury — automobile allowance; and Mr. Wilson — automobile allowance, club dues, life insurance premiums
and legal/financial planning fees.
As described on page 43, each executive is provided an annual allowance to use in connection with participation in the Company’s
Flexible Perquisite Program. The amount for Mr. Cassidy for 2009 in the table above is greater than his respective annual allowance
because such amounts include the reimbursement for expenses incurred in 2008. The Company reimbursed Mr. Cassidy in 2009
against the 2008 annual allowance. The amount for Mr. Cassidy for 2008 in the table above is greater than his respective annual
allowance because such amounts include the reimbursement for expenses incurred in 2007. The Company reimbursed Mr. Cassidy
in 2008 against the 2007 annual allowance. The amount for Mr. Wilson for 2007 in the table above is greater than his respective
annual allowance due to a reimbursement related to a physical examination.
(3) Includes amounts paid for moving Mr. Wojtaszek’s household goods and personal effects as well as costs related to the acquisition
and maintenance of his former residence.
(f) During 2009, the Company implemented a mandatory one-week furlough without pay for certain executives. As a result, the actual
annual salary received and identified in this table is less than previously approved by the Board.
(g) On July 3, 2008, the Board of Directors appointed Gary J, Wojtaszek to the position of Chief Financial Officer, effective August 1, 2008,
and also promoted Brian A. Ross, the former Chief Financial Officer, to the position of Chief Operating Officer. Mr. Ross’s salary also
increased from $375,000 to $425,000 per year.
(h) Amount includes $100,000 related to a signing bonus awarded to Mr. Wojtaszek on his date of hire, August 1, 2008.
(i) On March 23, 2009, Tara L. Khoury joined the Company as Senior Vice President and Chief Marketing Officer.
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