GNC 2008 Annual Report Download - page 155

Table of Contents
will actually be paid to the 2007 Named Executive Officers in March 2008 under the 2007 Incentive Plan, since the hypothetical termination date is the last
day of the fiscal year for which the bonus is to be determined.
As discussed above, Messrs. Larrimer, DiNicola and Weintrub terminated employment effective on or prior to December 31, 2007. Accordingly, we have
not included summary tables for such 2007 Named Executive Officers.
Where applicable, the information in the tables uses a fair market value per share of $6.93 as of December 31, 2007 for GNC Parent Corporation's common
stock. Since the Merger, the Compensation Committee has used a valuation methodology in which the fair market value of the common stock is based on our
business enterprise value, as adjusted to reflect our estimated excess cash and the fair market value of our debt.
For purposes of calculating any hypothetical reduction payment as a result of change in control payments, we have assumed that the change in control
payments for any of the 2007 Named Executive Officers would have included the amount of 2007 annual incentive compensation, and the value of any
options granted in 2007. To the extent any of these amounts were paid prior to December 31, 2007, they are not reflected in the tables below.
Chief Executive Officer
Joseph Fortunato
Termination Termination
w/o Cause or Termination w/o Cause or Termination
for Good w/o Cause or for Good w/o Cause or
Reason or for Good Reason in for Good
Non-renewal Reason upon anticipation Reason in
of the a Change in of a Change Connection Voluntary Death or Change in
Agreement Control in Control with an IPO Termination Disability Control
Benefit ($) ($) ($) ($) ($) ($) ($)
Lump Sum Base Salary 1,650,000 2,475,000 2,475,000 2,475,000 — 825,000 —
Lump Sum Annual Incentive Compensation 919,557 1,379,336 1,379,336 1,379,336 — 459,779 —
Lump Sum Annualized Value or Perquisites 148,600 222,900 222,900 222,900 — 74,300 —
Prorated Annual Incentive Compensation 700,875 700,875 700,875 700,875 — 459,779 —
Health & Welfare Benefits 20,719 20,719 20,719 20,719 — 20,719 —
Accelerated Vesting of Stock Options 1,105,017 2,210,035 1,657,526 1,657,526 — 552,509 2,210,035
Payment Reduction — (768,919) (479,340) — — — —
Net Value 4,544,769 6,239,946 5,977,016 6,456,356 — 2,392,085 2,210,035
151