Hertz 2014 Annual Report Download - page 252

Table of Contents
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 
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
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
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

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

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Kennedy
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—
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1,687,621
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Taride
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—
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1,380,766
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Stuart
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—
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1,227,339
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Broome
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—
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562,540
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Frissora
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—
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7,108,348
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Sider
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—
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1,717,253
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Zimmerman
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—
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1,304,053
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(2) 2014 amounts reflect amounts under the Senior Executive Bonus Plan for 2014 performance that were paid in 2015.
(3) Amounts include annual changes in the actuarial present value of accumulated pension benefits. The present value was determined using the same assumptions
applicable for valuing pension benefits for purposes of our Company’s financial statements. See the note entitled “Employee Retirement Benefits” in the notes to our
consolidated financial statements in our Form 10‑K for the fiscal year ended December 31, 2014.
(4) Includes the following for 2014:
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



























Tague 31,450 — — — 31,450 — — 11,975 8,339 — 51,764
Kennedy — 10,988 — — 10,988 428 — 305,233 220,577 — 537,226
MacDonald — 7,478 — — 7,478 303 — 87,641 61,732 — 157,154
Taride(f) — 5,291 11,728 — 17,019 5,468 — — — 46,322 68,809
Stuart — 12,526 3,250 — 15,776 880 7,800 10,000 7,227 — 41,683
Broome — 20,909 4,000 — 24,909 1,190 7,800 22,803 16,479 — 73,181
Frissora 109,911 73,897 — 2,917 186,725 3,118 7,800 — — 10,617,466 10,815,109
Sider — 10,600 2,725 — 13,325 734 7,650 10,000 7,227 2,746,180 2,785,116
Zimmerman — 12,802 1,300 — 14,102 1,335 7,800 10,000 7,227 1,692,295 1,732,759
(a) Based on the direct costs of aircraft for each hour of personal use, which is based on the incremental cost of fuel, crew expenses, on‑board catering and other, small
variable costs. We exclude fixed costs which do not change based on usage from this calculation.
(b) For Mr. Frissora, this amount includes the incremental cost of the driver’s time and costs related to Company ‑provided cars. For other executives, none of whom is
provided with a driver, this amount reflects the cost of depreciation and interest, if applicable.
(c) Amount represents the incremental costs to the Company for relocation assistance.
(d) Amount represents tax assistance for relocation assistance.
(e) For Messrs. Frissora, Sider and Zimmerman, this amount is the amount accrued or paid for severance arrangements pursuant to their respective Separation
Agreement. For Mr. Taride, this represents medical expenses and other miscellaneous expenses.
(f) Amounts for Mr. Taride have been translated from pounds sterling to U.S. dollars at the 12‑month average rate of 1.64739.
(5) The amount shown for Mr. MacDonald includes the grant date fair value of the PSUs calculated under FASB ASC Topic 718. Although the PSUs were not issued to Mr.
MacDonald because Hertz Holdings did not have an effective Form S-8 registration statement on file at the date of grant, for compensation disclosure and accounting
purposes they were considered granted because Hertz Holdings and Mr. MacDonald had a mutual understanding as to the key terms and conditions of the PSUs. These
awards were forfeited when Mr. MacDonald separated from our Company in 2015.
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Source: HERTZ GLOBAL HOLDINGS INC, 10-K, July 16, 2015 Powered by Morningstar® Document Research℠
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