Pep Boys 2011 Annual Report Download - page 150

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Nonqualified Defined Contribution Plan (our Account Plan)
Executive Registrant Aggregate Aggregate Aggregate
Contributions in Contributions in Earnings in Withdrawals/ Balance at
Last FY Last FY Last FY Distributions Last FYE
Name ($) ($) ($) ($) ($)
Michael R. Odell ............. — — (411) — 449,346
Raymond L. Arthur ........... — — 2,489 — 407,624
William E. Shull .............. — — (335) — 103,232
Scott A. Webb ............... — — (579) — 174,971
Joseph A. Cirelli ............. — — 1,975 — 143,620
Nonqualified Deferred Compensation Plan
Executive Registrant Aggregate Aggregate Aggregate
Contributions in Contributions in Earnings in Withdrawals/ Balance at
Last FY Last FY Last FY Distributions Last FYE
Name ($) ($) ($) ($) ($)
Michael R. Odell ............. 24,024 24,024 (138,461) 74,291 1,021,260
Raymond L. Arthur ........... 11,496 11,496 (69,252) 19,224 909,338
William E. Shull ............. 7,619 7,619 (17,892) 7,382 438,894
Scott A. Webb ............... 4,869 4,869 11,579 46,696 123,570
Joseph A. Cirelli ............. 17,161 4,153 (14,338) 5,417 274,215
Employment Agreements With Named Executive Officers
Change of Control Agreements. We have agreements with each named executive officer that
become effective upon a change of control of Pep Boys. Following a change of control, these
employment agreements become effective for two years and provide these executives with positions and
responsibilities, base and incentive compensation and benefits equal or greater to those provided
immediately prior to the change of control. In addition, we are obligated to pay any excise tax imposed
by Section 4999 of the Internal Revenue Code (a parachute payment excise tax) on a change of control
payment made to a named executive officer. A trust agreement has been established to better assure
the named executive officers of the satisfaction of Pep Boys’ obligations under their employment
agreements following a change of control. Upon a change of control, all outstanding but unvested stock
options and RSUs held by our all of our associates (including the named executive officers) vest and
become fully exercisable. For the purposes of these agreements, a change of control shall be deemed to
have taken place if:
• incumbent directors (those in place on, or approved by two-thirds of those in place on, the date
of the execution of the agreements) cease to constitute a majority of our Board;
• any person becomes the beneficial owner of 20% or more of our voting securities;
• the consummation of business combination transaction, unless immediately thereafter (1) more
than 50% of the voting power of the resulting entity is represented by our shareholders
immediately prior to such transaction, (2) no person is the beneficial owner of more than 20%
of the resulting entity’s voting securities and (3) at least a majority of the directors of the
resulting entity were incumbent directors;
• a sale of all or substantially all of our assets;
• the approval of a complete liquidation or dissolution of Pep Boys; or
• such other events as the Board may designate.
106