Starwood 2009 Annual Report Download - page 44

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(4) Pursuant to SEC rules, perquisites and personal benefits are not reported for any Named Executive Officer for
whom such amounts were less than $10,000 in the aggregate for 2009, 2008 and 2007 but must be identified by
type for each Named Executive Officer for whom such amounts were equal to or greater than $10,000 in the
aggregate. In that regard, the All Other Compensation column of the Summary Compensation Table includes
perquisites and other personal benefits consisting of the following: annual physical examinations, COBRA
premiums paid by the Company, Company contributions to the Company’s tax-qualified 401(k) plan, dividends
on restricted stock, life insurance premiums, legal fees paid by the Company, spousal accompaniment while on
business travel, and tax and financial planning services. SEC rules require specification of the cost of any
perquisite or personal benefit when this cost exceeds $25,000. This applies to Mr. van Paasschen’s personal
travel (discussed below). These amounts are included in the All Other Compensation column.
The net aggregate incremental cost to the Company of Mr. van Paasschen’s personal use of the Company-
owned plane and chartered aircraft was $3,746 in 2009, all of which he reimbursed to the Company in January
2010; $329,480 in 2008; and $165,606 in 2007. With respect to expenses incurred in 2008 and 2007, Mr. van
Paasschen’s employment agreement provides that the Company would provide Mr. van Paasschen with up to a
$500,000 credit for personal use of the Company’s aircraft during the first 12 months of his employment with
the Company. The amount for 2007 also includes relocation benefits which had an aggregate cost of $132,275
and the reimbursement of $44,556 for legal fees incurred in connection with the negotiation of his employment
agreement. These amounts (other than the reimbursed expenses for use of the Company-owned plane and
chartered aircraft in 2009) are included in the All Other Compensation column.
The cost of the Company-owned plane includes the cost of fuel, ground services and landing fees, navigation
and telecommunications, catering and aircraft supplies, crew expenses, aircraft cleaning and an allocable share
of maintenance. Pursuant to SEC rules, the following table specifies the value for each element of All Other
Compensation not specified above (other than perquisites and personal benefits) that is valued in excess of
$10,000.
Name
Dividend
Equivalents on
Restricted Stock
($) (2009)
Relocation
($) (2009)
Dividend
Equivalents on
Restricted Stock
($) (2008)
Relocation
($) (2008)
Dividend
Equivalents on
Restricted Stock
($) (2007)
van Paasschen ....... — 31,438 — 165,328 —
Avril ............... 57,254 — 150,728 — —
Prabhu ............. 85,186 — 69,917 — 63,530
Siegel .............. 89,225 — 76,538 — 24,199
Turner ............. — — — — —
(5) Represents special one-time cash bonus enhancements, less deferred amounts, awarded by the Compensation
Committee in recognition of 2009 accomplishments.
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