Hertz 2014 Annual Report Download - page 155

Table of Contents


For plans that are not individually significant to the Company, the total amount of contributions is presented in the aggregate.





















 
















Western Conference of
Teamsters 91-6145047

Green

Green

NA

$ 6

$ 4

$ 4

NA

1/31/2013 -
10/1/2015
Teamsters Central
States 36-6044243

Red

Red

Implemented

1

1

1

No

5/31/2013 -
3/10/2017
IAM National 51-60321295

Green

Green

NA

1

1

1

NA

9/25/2011* -
8/31/2016
Midwest Operating
Engineers 36-6140097

Green

Green

NA

1

1

1

NA

2/25/2014
Local 1034** 13-6594795

Red

Red

Implemented

—

—

—

Yes

5/2/2013*
Operating Engineers
Local 324 38-1900637

Red

Red

Implemented

—

—

—

No

6/30/2016
Western Pennsylvania
Teamsters 25-6029946

Red

Red

Implemented

—

—

—

No

11/4/2014
Other Plans





1

1

1




Total Contributions





$ 10

$ 8

$ 8




* 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 December 31, 2014.
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
$24 million, substantially all of which was paid in December 2012.


On February 28, 2008, the Company's Board of Directors adopted the Hertz Global Holdings, Inc. 2008 Omnibus Incentive Plan, or the “Omnibus
Plan,” which was approved by its stockholders at the annual meeting of stockholders held on May 15, 2008 and amended and restated on May 27,
2010. A maximum of approximately 32,700,000 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.
The Company 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, 2014, there were
3,606,457 shares of its common stock underlying awards outstanding under the Prior Plans. In addition, as of December 31, 2014, there were
7,669,877 shares of its common stock underlying awards outstanding under the Omnibus Plan.
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Source: HERTZ GLOBAL HOLDINGS INC, 10-K, July 16, 2015 Powered by Morningstar® Document Research℠
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