Hertz 2012 Annual Report Download - page 157

HERTZ GLOBAL HOLDINGS, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
For plans that are not individually significant to us, the total amount of contributions is presented in the
aggregate.
Expiration
Pension Contributions by
FIP / Dates of
Protection Act The Hertz
EIN /Pension RP Status Collective
Zone Status Corporation
(In millions of dollars) Plan Pending / Surcharge Bargaining
Pension Fund Number 2012 2011 Implemented 2012 2011 2010 Imposed Agreements
Western Conference of
Teamsters ............. 91-6145047 Green Green NA $4.1 $3.9 $3.8 NA Various
Teamsters Central States ..... 36-6044243 Critical Critical Implemented 1.2 1.3 1.2 No Various
IAM National ............ 51-60321295 Green Green NA 0.7 0.6 0.6 NA Various
Midwest Operating Engineers . . 36-6140097 Green Green NA 0.5 0.4 0.2 NA 2/28/2014
Local 1034** ............ 13-6594795 Critical Critical Implemented 0.2 0.2 0.2 Yes 5/2/2013
Operating Engineers Local 324 . 38-1900637 Critical Critical Implemented 0.1 0.1 0.1 No 6/30/2013
Western Pennsylvania Teamsters 25-6029946 Critical Critical Implemented 0.1 0.1 0.1 No 11/4/2011*
7 Other Plans .... 0.6 0.6 0.5
Total Contributions . . $7.5 $7.2 $6.7
* The parties are still attempting to negotiate a successor agreement.
** The amount contributed by Hertz to the Local 1034 Pension Fund was reported as being more than 5% of total contributions to the
plan, on the fund’s Form 5500 for the year ended 12/31/2011.
During 2012, Hertz completely withdrew employees from an existing multi-employer pension plan with
the Central States Pension Fund, or the ‘‘Pension Fund,’’ and entered into a new agreement with the
Pension Fund, which adopted an alternative method for determining an employer’s unfunded obligation
that would limit Hertz funding obligations to the Pension Fund in the future. As part of the agreement,
certain Pension Fund participants were effectively moved to the Hertz retirement plan and the remaining
participants were moved to a new pension plan sponsored by the Pension Fund. In connection with the
complete withdrawal from the Pension Fund, Hertz was subject to a withdrawal liability of approximately
$23.2 million, which was paid in December 2012.
Note 7—Stock-Based Compensation
Plans
On February 28, 2008, our Board of Directors adopted the Hertz Global Holdings, Inc. 2008 Omnibus
Incentive Plan, or the ‘‘Omnibus Plan,’’ which was approved by our stockholders at the annual meeting
of stockholders held on May 15, 2008 and amended and restated on May 27, 2010. A maximum of
32.7 million shares are reserved for issuance under the Omnibus Plan. The Omnibus Plan provides for
grants of both equity and cash awards, including non-qualified stock options, incentive stock options,
stock appreciation rights, performance awards (shares and units), restricted stock, restricted stock units
and deferred stock units to key executives, employees and non-management directors. We also granted
awards under the Hertz Global Holdings, Inc. Stock Incentive Plan, or the ‘‘Stock Incentive Plan,’’ and
the Hertz Global Holdings, Inc. Director Stock Incentive Plan, or the ‘‘Director Plan’’, or collectively the
‘‘Prior Plans.’’
The Omnibus Plan provides that no further awards will be granted pursuant to the Prior Plans. However,
awards that had been previously granted pursuant to the Prior Plans will continue to be subject to and
governed by the terms of the Prior Plans. As of December 31, 2012, there were 8.0 million shares of our
common stock underlying awards outstanding under the Prior Plans. In addition, as of December 31,
2012, there were 9.4 million shares of our common stock underlying awards outstanding under the
Omnibus Plan.
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