Alaska Airlines and Horizon Air 2012 Annual Report Download - page 80

EXECUTIVE COMPENSATION
provide that, effective January 1, 2014, both
plans will be frozen so that participants in
the plans will not accrue any benefits with
respect to services performed or
compensation earned on or after that date.
The Board also amended the Nonqualified
Deferred Compensation Plan so that,
effective January 1, 2014, officers who
previously participated in the Supplementary
Retirement Plan, including Mr. Tilden,
Mr. Loveless, Mr. Johnson, and Mr. Ayer,
and are then employed by the Company, will
be eligible to participate in the Nonqualified
Deferred Compensation Plan.
2012 NONQUALIFIED DEFERRED COMPENSATION
Under the Nonqualified Deferred
Compensation Plan, the Named Executive
Officers and other key employees may elect
to receive a portion of some or all of their
Performance-Based Pay awards on a
deferred basis. The crediting interest rate for
amounts deferred in prior years is based on
the mean between the high and the low
rates during the first 11 months of the
preceding year of yields of Ba2-rated
industrial bonds as determined by the plan
administrator (rounded to the nearest one-
quarter of one percent). Participants under
the plan have the opportunity to elect among
the investment funds offered under our
401(k) plan for purposes of determining the
return on their plan accounts. Alternatively,
participants may allocate some or all of their
plan account to an interest-bearing option
with a rate equal to the yield on a Moody’s
index of Ba2-rated industrial bonds as of
November of the preceding year, rounded to
the nearest one-quarter of one percent.
Subject to applicable tax laws, amounts
deferred under the plan are generally
distributed on termination of the
participant’s employment, although
participants may elect an earlier distribution
date and may elect payment in a lump sum
or installments.
The following table presents information
regarding the contributions to and earnings
on the Named Executive Officers’ balances
under the Company’s nonqualified deferred
compensation plans during 2012, and also
shows the total deferred amounts for the
Named Executive Officers as of
December 31, 2012.
Name
(a)
Executive
Contributions
in Last FY
($)
(b)
Registrant
Contributions
in Last FY
($)
(c)
Aggregate
Earnings
in Last FY
($)(1)
(d)
Aggregate
Withdrawals/
Distributions
($)
(e)
Aggregate
Balance
at Last FYE
($)(1)
(f)
Bradley D. Tilden — — — — —
Brandon S. Pedersen — — — — —
Keith Loveless 282,049 — 3,524 — 301,260
Glenn S. Johnson — — 1,730 (104,265) 272,408
Benito Minicucci — — — — —
William S. Ayer — — 687 (43,906) 194,311
(1) Only the portion of earnings on deferred compensation that is considered to be at above-market rates under
SEC rules is required to be included as compensation for each Named Executive Officer in Column (h) of the
Summary Compensation Table. Because the earnings were at market rates available to other investors, these
amounts were not included on the Summary Compensation Table.
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