First Data 2007 Annual Report Download - page 171

(2) Includes value realized from all FDC and WU restricted shares which vested during the year. All previously unvested restricted shares held at the time
of the merger became fully vested with a realized price of $34.00 per share for FDC shares and $21.16 per share for WU shares. Stock prices on other
vesting dates during the year were: $25.53 per share for FDC and $21.90 per share for WU on February 22, 2007; $25.42 per share for FDC and $21.89
per share for WU on February 23, 2007.
(3) Represents exercise of 200,000 options of FDC and 200,000 options of WU with a combined realized value of $3,011,340; cancellation of 1,592,251
options of FDC with a realized value of $16,305,659 in connection with the merger; vesting of 96,000 shares of FDC with a realized value of
$3,264,000 in connection with the merger.
(4) Represents cancellation of 929,500 options of FDC with a realized value of $11,141,502 in connection with the merger; vesting of 10,000 shares of
FDC and 10,000 shares of WU with combined realized value of $473,100 due to normal vesting; vesting of 106,000 shares of FDC and 70,000 shares
of WU with a combined realized value of $5,085,200 in connection with the merger.
(5) Represents cancellation of 362,100 options of FDC with a realized value of $3,010,490 in connection with the merger; vesting of 30,000 shares of FDC
with a realized value of $1,020,000 in connection with the merger.
(6) Represents exercise of 225,000 options of WU with a realized value of $564,795; cancellation of 437,100 options of FDC with a realized value of
$4,116,155 in connection with the merger; vesting of 67,500 shares of FDC and 37,500 shares of WU with a combined realized value of $3,088,500 in
connection with the merger.
(7) Represents exercise of 1,306,768 options of WU with a realized value of $15,381,071; cancellation of 4,716,856 options of FDC with a realized value
of $77,243,351 in connection with the merger; vesting of 45,600 shares of FDC with a realized value of $1,550,400 in connection with the merger.
(8) Represents cancellation of 630,000 options of FDC with a realized value of $5,832,060 in connection with the merger; vesting of 69,600 shares of FDC
and 30,000 shares of WU with a combined realized value of $3,001,200 in connection with the merger.
(9) Represents exercise of 655,000 options of WU with a realized value of $4,685,409; cancellation of 1,235,000 options of FDC with a realized value of
$16,646,019 in connection with the merger; vesting of 10,000 shares of FDC and 10,000 shares of WU with combined realized value of $473,100 due
to normal vesting; vesting of 109,600 shares of FDC and 70,000 shares of WU with a combined realized value of $5,207,600 in connection with the
merger.
PENSION BENEFITS
Name Plan Name
Number of
Years Credited
Service (#)
Present Value of
Accumulated Benefit ($)
Payments During Last
Fiscal Year ($)
Henry C. Duques Qualified Benefit 10.50 $ 263,101 $ 0
Non-qualified Benefit 10.50 168,787 0
Kimberly S. Patmore Qualified Benefit 1.37 15,467 0
Non-qualified Benefit 1.37 0 0
David P. Bailis Qualified Benefit 5.13 58,867 0
Non-qualified Benefit 5.13 12,957 0
The named executive officers in the above table participate in two Company sponsored defined benefit pension plans: the First Data Corporation
Retirement Plan, a tax-qualified plan; and the First Data Corporation Excess Benefit Retirement Plan, a non-qualified pension plan, which provides
supplemental retirement and related benefits for a select group of management and highly compensated employees of the Company. The Company adopted
the Excess Benefit Retirement Plan to be effective January 1, 1994 and believes it serves to assist the Company in motivating and retaining executives of
superior ability, industry and loyalty. It also serves to recognize pay over limitations set by the Internal Revenue Code. The Company does not have a policy
regarding extra years of credited service under the plans.
The Company calculates the present values shown on the table using: (i) the same discount rates it uses for FAS 87 calculations for financial reporting
purposes (6.47% for both the Retirement Plan and the Excess Benefit Retirement Plan); and (ii) each plan's earliest unreduced retirement age based on the
participant's age and service (age 60 for both the Retirement Plan and the Excess Benefit Retirement Plan). The present values shown in the table reflect post-
retirement mortality, based on the FAS 87 assumption (the 2007 Optional Combined Mortality Table), but do not include an assumption of pre-retirement
termination, mortality, or disability.
First Data Corporation Retirement Plan
The Retirement Plan froze benefit accruals as of December 30, 1997 for most Plan participants and as of December 30, 1998 for the remaining Plan
participants. In general, the Retirement Plan provides participants with a life annuity benefit at normal retirement equal to the sum of A plus B plus C, with a
minimum of D below.
A. 1% of Average Final Compensation multiplied by Credited Service up to five years; plus
B. 1.15% of Average Final Compensation multiplied by Credited Service for the next five years; plus
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