AbbVie 2013 Annual Report Download - page 147

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Richard A. Gonzalez
Effective February 20, 2014, Mr. Gonzalez was awarded a 2013 annual bonus of $3,300,000, which
was above his target bonus of 200 percent of base pay. Effective February 14, 2013, he received
long-term incentives, including a 526,430 share stock option grant and a 257,720 share performance-
vesting restricted stock award.
Laura J. Schumacher
Effective February 20, 2014, Ms. Schumacher was awarded a 2013 annual bonus of $1,290,000,
which was above her target bonus of 110 percent of base pay. Effective February 14, 2013, she received
long-term incentives, including a 145,510 share stock option grant and a 71,230 share performance-
vesting restricted stock award.
William J. Chase
Effective February 20, 2014, Mr. Chase was awarded a 2013 annual bonus of $1,100,000, which was
above his target bonus of 105 percent of base pay. Effective February 14, 2013, he received long-term
incentives, including a 115,830 share stock option grant and a 56,700 share performance-vesting
restricted stock award.
Carlos Alban
Effective February 20, 2014, Mr. Alban was awarded a 2013 annual bonus of $1,030,000, which was
above his target bonus of 105 percent of base pay. Effective February 14, 2013, he received long-term
incentives, including a 115,830 share stock option grant and a 56,700 share performance-vesting
restricted stock award.
Timothy J. Richmond
Effective February 20, 2014, Mr. Richmond was awarded a 2013 annual bonus of $525,000, which
was above his target bonus of 90 percent of base pay. Effective February 14, 2013, he received
long-term incentives, including a 87,040 share stock option grant and an 42,610 share performance-
vesting restricted stock award.
Post-Termination and Other Benefits
Each of the benefits described below supports the company’s objective of providing a market
competitive total rewards program. Individual benefits do not directly affect decisions regarding other
benefits or pay components, except to the extent that all benefits and pay components must, in
aggregate, be competitive, as previously discussed.
Retirement Benefits
In 2013, the named executive officers participated in the AbbVie Pension Plan and the AbbVie
Supplemental Pension Plan. These plans are described in greater detail in the section of this proxy
statement captioned ‘‘Pension Benefits.’’
Since Supplemental Pension Plan benefits cannot be secured in a manner similar to qualified plan
benefits, which are held in trust, named executive officers receive an annual cash payment equal to the
increase in the present value of their Supplemental Pension Plan benefit. Named executive officers
have the option of depositing these annual payments into an individually established grantor trust, net
of tax withholdings. Deposited amounts may be credited with the difference between the named
executive officer’s actual annual trust earnings and the rate used to calculate trust funding (currently
8 percent). Amounts deposited in the individual trusts are not tax deferred. Further, named executive
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