GNC 2011 Annual Report Download - page 140

Table of Contents
Benefits and Perquisites. We provide a fringe benefit package for our Named Executive Officers. Generally, our Named Executive Officers are
entitled to participate in, and to receive benefits under, any benefit plans, arrangements, or policies available to employees generally or to our executive
officers generally. The fringe benefits for our Chief Executive Officer and President were negotiated in connection with their respective employment
agreements and in some respects were set at higher levels as a matter of policy based on their respective positions. The basic fringe benefits package for our
Named Executive 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 $6,500;
an allowance for professional assistance in an annual amount equal to $7,500 ($10,500 for our Chief Executive Officer);
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 $5,000 ($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 and above receive additional fringe benefits, which generally consist of some of the
allowances listed, but at higher amounts (car allowance of $11,500 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. As a result, Messrs. Fortunato and Dowd receive a supplemental medical
allowance benefit in the amount of approximately $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 Messrs. Dowd, Nuzzo and Berg are Executive Vice Presidents, Mr. Dowd received a
car allowance of $11,500, whereas Messrs. Nuzzo and Berg received a car allowance of $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
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