OfficeMax 2010 Annual Report Download - page 90

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Qualified pension benefit payments are paid from the assets held in the plan trust, while nonqualified
pension and other benefit payments are paid by the Company. Future benefit payments by year are estimated to
be as follows:
Pension
Benefits
Other
Benefits
(thousands)
2011 ..................................................................... $101,700 $1,445
2012 ..................................................................... 98,300 1,374
2013 ..................................................................... 97,481 1,319
2014 ..................................................................... 96,942 1,286
2015 ..................................................................... 95,620 1,263
2016-2020 ................................................................. 463,967 6,225
Defined Contribution Plans
The Company also sponsors defined contribution plans for most of its employees. Through 2004, the
Company sponsored four contributory defined contribution savings plans for most of its salaried and hourly
employees: a plan for Retail employees, a plan for non-Retail salaried employees, a plan for union hourly
employees, and a plan for non-Retail, nonunion hourly employees. The plan for non-Retail salaried employees
included an employee stock ownership plan (“ESOP”) component and the Company’s Series D ESOP
convertible preferred stock were fully allocated to eligible participants in prior years. Total Company
contributions to the defined contribution savings plans were $3.2 million in 2010, $1.3 million in 2009 and
$8.0 million in 2008.
13. Shareholders’ Equity
Preferred Stock
At December 25, 2010, 686,696 shares of 7.375% Series D ESOP convertible preferred stock were
outstanding, compared with 810,654 shares outstanding at December 26, 2009 and 945,899 shares outstanding at
December 27, 2008. The Series D ESOP convertible preferred stock is shown in the Consolidated Balance Sheets
at its liquidation preference of $45 per share. All shares outstanding have been allocated to participants in the
plan. Each ESOP preferred share is entitled to one vote, bears an annual cumulative dividend of $3.31875 and is
convertible at any time by the trustee to 0.82168 share of common stock. The ESOP preferred shares may not be
redeemed for less than the liquidation preference.
Common Stock
The Company is authorized to issue 200,000,000 shares of common stock, of which 85,057,710 shares were
issued and outstanding at December 25, 2010. Of the unissued shares, 12,916,933 shares were reserved for the
following purposes:
Conversion or redemption of Series D ESOP preferred stock ............................... 564,244
Issuance under 2003 OfficeMax Incentive and Performance Plan ............................ 11,493,978
Issuance under Key Executive Stock Option Plan ........................................ 781,160
Issuance under Director Stock Compensation Plan ....................................... 7,475
Issuance under Director Stock Option Plan ............................................. 9,000
Issuance under 2001 Key Executive Deferred Compensation Plan ........................... 3,889
Issuance under 2003 Director Stock Compensation Plan ................................... 57,187
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