AbbVie 2013 Annual Report Download - page 163

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2013 Nonqualified Deferred Compensation
The following table summarizes Ms. Schumacher’s, Mr. Chase’s and Mr. Richmond’s non-qualified
deferred compensation under the AbbVie Deferred Compensation Plan. No additional contributions
have been made to their accounts under the plan since such time as Ms. Schumacher, Mr. Chase and
Mr. Richmond, respectively, became officers and ceased to be eligible to contribute to the plan. None
of the other named executive officers has any non-qualified deferred compensation.
Executive Registrant Aggregate Aggregate Aggregate
contributions contributions earnings withdrawals/ balance at
in last FY in last FY in last FY distributions last FYE
Name Plan Name ($) ($) ($)(3) ($) ($)(4)
L. Schumacher . . . Deferred Compensation Plan(1)(2) 0 0 $80,850 0 $355,683
W. Chase .......Deferred Compensation Plan(1)(2) 0 0 12,163 0 66,795
T. Richmond ....Deferred Compensation Plan(1)(2) 0 0 979 0 47,491
(1) Ms. Schumacher’s, Mr. Chase’s, and Mr. Richmond’s contributions to the Deferred Compensation Plan
ceased in 2002, 2007, and 2010, respectively.
(2) The plan permits participants to defer up to 75 percent of their base salary and up to 100 percent of
their annual cash incentives and credits a participant’s account with an amount equal to the employer
matching contributions that otherwise would have been made for the participant under AbbVie’s
tax-qualified defined contribution plan. Participants may direct the investment of their deferral accounts
into one or more of several funds chosen by the administrator, and the deferral account is credited with
investment returns based on the performance of the fund(s) selected. During 2013, the weighted average
rate of return credited to accounts was 29.4 percent for Ms. Schumacher, 22.1 percent for Mr. Chase,
and 2.1 percent for Mr. Richmond.
The plan provides for cash distributions in either a lump sum or installments after separation from
service and permits in-service withdrawals in accordance with specific procedures. Participants make
distribution elections each year that apply to the deferrals to be made in the following calendar year, in
accordance with the requirements of Internal Revenue Code Section 409A. Participants may request
withdrawals due to financial hardship; if a hardship withdrawal is approved, it is limited to the amount
needed to address the hardship.
(3) The amounts reported in this column are not included in the Summary Compensation Table of this
proxy statement.
(4) The amounts reported in this column have not been previously reported as compensation in AbbVie’s
Summary Compensation Tables because they relate to contributions made before the applicable
individual became a named executive officer.
Potential Payments upon Termination or Change in Control
Potential Payments upon Termination—Generally
AbbVie does not have employment agreements with its named executive officers.
The following summarizes the payments that the named executive officers would have received if
their employment had terminated on December 31, 2013. Earnings would have continued to be paid
for the named executive officer’s Performance Incentive Plan and Supplemental Savings Plan grantor
trusts until the trust assets were fully distributed. The amount of these payments would depend on the
period over which the trust assets were distributed and the trust earnings and fees. If the trust assets
were distributed over a ten-year period and based on current earnings, the named executive officers
would receive the following average annual payments over such ten-year period: Mr. Gonzalez,
$431,289; Ms. Schumacher, $427,746; Mr. Chase, $296,191; Mr. Alban, $299,627; and Mr. Richmond,
$64,659. In addition, the following one-time deposits would have been made under the AbbVie
Supplemental Pension Plan for each of the following named executive officers, respectively:
Mr. Gonzalez, $0; Ms. Schumacher, $3,311,908; Mr. Chase, $326,981; Mr. Alban, $1,160,177; and
Mr. Richmond, $48,118. As of December 31, 2013, Mr. Gonzalez, Ms. Schumacher, and Mr. Alban
were eligible to retire, and therefore were eligible to receive the pension benefits described above.
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