GNC 2009 Annual Report Download - page 138

Table of Contents
• prescription drug coverage in accordance with our health insurance plan or program, or separate prescription drug coverage plan or
program, in effect from time to time;
• dental insurance in accordance with our dental insurance plan or program in effect from time to time;
• long-term disability insurance in accordance with our long-term disability insurance plan or program in effect from time to time;
• short-term disability insurance in accordance with our short-term disability insurance plan or program in effect from time to time;
• life insurance coverage in accordance with our life insurance program in effect from time to time, which for our Chief Executive
Officer will be an amount equal to 2 times his base salary, not to exceed the maximum coverage limit provided from time to time in
accordance with our employee benefits plan;
• an automobile allowance in an annual amount equal to $5,000;
• an allowance for professional assistance in an annual amount equal to $3,500;
• a supplemental retirement allowance in an annual amount equal to $10,000 ($25,000 for our Chief Executive Officer);
• a financial planning and tax preparation allowance in an annual amount equal to $3,000 ($8,000 for our Chief Executive Officer);
and
• for senior vice presidents located at our headquarters in Pittsburgh, Pennsylvania, a downtown Pittsburgh parking lease with an
annual value in an amount equal to $2,640.
Named Executive Officers at the executive vice president level receive additional fringe benefits, which generally consist of some of the
allowances listed, but at higher amounts (car allowance of $11,500; professional assistance allowance of $10,500; and, if applicable, a
Pittsburgh parking lease with a $3,300 value).
In addition to the basic package, we have Named Executive Officers who have historically received some of these allowances in greater
amounts and have been grandfathered at those levels even though the current basic package is set at lower amounts. An additional benefit, a
supplemental medical allowance of $6,000 per year is provided, on a grandfathered basis, to some of our Named Executive Officers, including
our Chief Executive Officer.
In addition to the fringe benefits set forth above, the fringe benefits package for our Chief Executive Officer also consists of an allowance for
country club dues and expenses incurred for business reasons in an annual amount equal to $15,000, plus a one-time membership fee of
$10,000 for a business club; and first class air travel for all business trips. In lieu of the individual allowances set forth above for our Named
Executive Officers, our President receives $50,000 of additional fringe benefits to cover professional assistance, supplemental retirement,
financial planning and automotive expenses.
Under certain circumstances, management may recommend and the Compensation Committee may approve more limited benefits or
additional benefits, such as relocation expenses for new executives.
While the Compensation Committee in its discretion may revise, amend or add to Named Executive Officers' benefits if it deems it advisable,
we have no current plans to change the levels of benefits currently provided to our Named Executive Officers. We annually review these fringe
benefits and make adjustments as warranted based on competitive practices, our performance and the individual's responsibilities and
performance. The Compensation Committee has approved these other benefits as a reasonable component of our executive compensation
program. Please see the "All Other Compensation" column in the Summary Compensation Table for further information regarding these fringe
benefits. 132