Cincinnati Bell 2006 Annual Report Download - page 70

Nonqualified Deferred Compensation
The following table sets forth information concerning compensation deferred by the Named Executive
Officers:
Nonqualified Deferred Compensation for 2006 Fiscal Year
Name
Executive
Contributions
in Last Fiscal
Year
($) (a)
Company
Contributions
in Last Fiscal
Year
($)
Aggregate
Earnings in
Last Fiscal
Year
($)
Aggregate
Withdrawals/
Distributions
($)
Aggregate Balance at
December 31, 2006
($)
John F. Cassidy .............. 1,046,615 — 138,730 (b)(c) — 1,237,995
Brian A. Ross ............... 113,866 — 13,363 (b) — 127,229
Rodney D. Dir .............. — — — — —
Michael W. Callaghan ........ — — 140,730 (d) — 894,497
Christopher J. Wilson ......... — — — — —
(a) Mr. Cassidy deferred receipt of his performance restricted share award of 255,896 shares earned for 2005 for
the 2005 – 2007 performance period that was paid on February 28, 2006. For the same period, Mr. Ross also
deferred his performance restricted share award of 27,840 shares. The amounts shown in the column are
based on the closing price of the Company’s stock ($4.09) on February 28, 2006, the deferral date, for their
shares. Although paid in 2006, these amounts represent awards earned in and for 2005 performance and,
therefore, are not included in the Summary Compensation Table.
(b) The amounts include the difference between the closing price of the Company’s stock ($4.09) on
February 28, 2006, the deferral date, and the closing price of the Company’s stock ($4.57) on December 29,
2006, which was the last day of trading on the NYSE for the 2006 fiscal year for shares deferred by Messrs.
Cassidy and Ross.
(c) For Mr. Cassidy, the amount shown also includes 15,000 shares of stock that were deferred on May 2, 2002.
(d) For Mr. Callaghan, the amount shown represents amounts earned on deferrals of his base salary and bonus
payments for periods prior to 2006.
The 1997 Cincinnati Bell Inc. Executive Deferred Compensation Plan (the “Executive Deferred
Compensation Plan”) permits, for any calendar year, each employee who has an annual base rate of pay and
target bonus above a certain high dollar amount and has been designated by the Company or a subsidiary of the
Company as a “key employee” for purposes of the plan (currently a key employee for purposes of the plan
generally has annual pay of more than $220,000) to defer receipt of up to 75% of his or her base salary, up to
100% of his or her cash bonuses (including annual incentive awards and cash awards under the 1997 Long Term
Incentive Plan and the 2007 Long Term Incentive Plan (collectively, the “Long Term Incentive Plans”)) and up
to 100% of any common share awards (not including awards of stock options or restricted stock) provided him or
her under the Long Term Incentive Plans. In addition, any key employee who has received a restricted stock
award under the Long Term Incentive Plans may generally elect to surrender any of the restricted shares of such
award as long as such surrender is at least six months prior to the date on which the restrictions applicable to
such shares would otherwise have lapsed.
For all key employees who participate in the Executive Deferred Compensation Plan, there is also a
Company “match” on the amount of base salary and cash bonuses deferred under the plan for any calendar year.
In general, to the extent a participating key employee’s base salary and cash bonuses for the applicable year do
not exceed a certain annual compensation limit prescribed by the Internal Revenue Code for tax-qualified plans
(which limit was $220,000 for 2006), the match is 4% of the base salary and cash bonuses deferred by the
employee under the plan. To the extent a participating key employee’s base salary and cash bonuses for the
applicable year exceed the appropriate annual compensation limit, the match is generally equal to the lesser of
662/3% of the base salary and cash bonuses deferred by the key employee under the plan or 4% of the key
employee’s base salary and cash bonuses for the applicable year that are in excess of such annual compensation
limit.
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