GNC 2011 Annual Report Download - page 149

Table of Contents
Option Exercises and Stock Vested
In September 2010, Mr. Berg exercised options to purchase 13,876 shares of our Parent's Class A common stock, for which he realized a gain of
$51,064, and 4,749 shares of our Parent's Series A preferred stock, for which he realized no gain. No other stock options were exercised in 2010. We have not
issued, nor are there any outstanding, shares of restricted stock.
Pension Benefits
We did not have a pension plan in effect for the benefit of our Named Executive Officers for the fiscal year ended December 31, 2010.
Non-qualified Deferred Compensation
We maintain the GNC Live Well Later Non-qualified Deferred Compensation Plan for the benefit of a select group of management or highly
compensated employees. Under the deferred compensation plan, eligible employees may elect to defer a portion of his or her future compensation under the
plan by electing such deferral prior to the beginning of the calendar year during which the deferral amount would be earned (or, if applicable, within 30 days
of the date on which the employee first becomes eligible to participate in the plan). The minimum amount of salary that may be deferred by an eligible
employee for a calendar year is $200, subject to a maximum of 25% of the employee's salary otherwise payable for the year. The employers participating in
the plan may in their discretion elect to make a matching contribution to the plan for a calendar year, based on amounts deferred by eligible employees for that
year. An eligible employee may elect at the time amounts are deferred under the plan to have such amounts credited to an in-service account, which is payable
(subject to certain special elections for 2006 and 2007 pursuant to Section 409A of the Internal Revenue Code of 1986, as amended (the "Code")) on a future
date selected by the employee at the time the employee first elects to defer compensation under the plan, or to a retirement account, which is payable (subject
to the special elections described above) upon the employee's retirement (as defined in the plan). Eligible employees may select the investment fund or funds
in which such deferred amounts are invested in a manner similar to the 401(k) plan. An eligible employee's deferrals under the plan are credited with
investment gains and losses of such investment fund or funds until the amounts are distributed to the eligible employee. For purposes of determining
investment gains and losses, deferrals under the plan are deemed invested, as of each pay-check date, in the investment fund or funds selected by the eligible
employee. The Company need not actually invest deferrals under the plan in the applicable investment funds or funds. Payments will be made earlier than the
dates described above as a result of the death or disability of an employee participating in the plan. If a participating employee dies before retirement, a death
benefit will be paid to the employee's beneficiaries in certain cases. For purposes of applying the provisions of the Code and the Employee Retirement Income
Security Act (ERISA) to the plan, the plan is intended to be an unfunded arrangement.
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