GNC 2010 Annual Report Download - page 147

Table of Contents
Officers who are senior vice presidents generally consists of the following items:
• health insurance in accordance with our health insurance plan or program in effect from time to time;
• 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 $7,500; 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. Messrs. Fortunato and Dowd receive an additional benefit on a grandfathered basis as follows: a supplemental medical
allowance of $6,000 per year. In addition, Mr. Dowd received a car allowance in a greater amount than other executive officers of the same
level of position on a grandfathered basis. Although Mr. Dowd and Mr. Nuzzo are Executive Vice Presidents, Mr. Dowd received a car
allowance of $11,500, whereas Mr. Nuzzo received a car allowance of only $6,500.
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. 141