Rayovac 2008 Annual Report Download - page 95

Table of Contents
Index to Financial Statements
All Other Compensation Table
(Fiscal 2008)
Name
Financial
Planning
Services
Provided
to Executive
Life
Insurance
Premiums
Paid on
Executives
Behalf(1)
Reimburse-
ment of
Medical
Expenses
Not Paid By
Company’s
Health
Plan(2)
Personal
Use of
Company
Jet(3)
Car
Allowance/
Personal
Use of
Company
Car(4)
Tax
Equalization
Payments(5)
Company
Contributions
to Executive’s
Qualified
Retirement
Plan(6)
Company
Contributions
to Executive’s
Nonqualified
Retirement
Plan(7)
Other
Compen-
sation
Cost of Living
Differential
Allowance(9) Total
Mr. Hussey $ 31,000 $ 12,537 $ 7,463 $ 30,805 $ 18,963 $ 84,143 $ 5,515 $ 112,500 $ — $ 36,000 $ 338,926
Mr. Genito $ 31,200 $ 1,260 $ — $ — $ 10,250 $ 10,910 $ 9,479 $ — $ — $ — $ 63,099
Mr. Lumley $ 50,000 $ 5,749 $ — $ — $ 15,253 $ 33,950 $ 8,837 $ 75,000 $ — $ — $ 188,789
Mr. Heil $ 20,000 $ 6,318 $ — $ — $ 18,000 $ 3,402 $ 6,569 $ 67,500 $ 61,226(8) $ — $ 183,015
Ms. Yoder $ 20,000 $ 3,045 $ — $ — $ 18,000 $ — $ 15,467 $ — $ — $ — $ 56,512
(1) The amount represents the life insurance premium paid for the fiscal year. The Company provides life insurance coverage equal to three times base salary for each executive officer.
(2) Amounts represent reimbursements under the Medical Expenses Reimbursement Plan described under the heading “Perquisites and Benefits” beginning on page 85.
(3) Amounts represent the aggregate incremental usage costs associated with the personal use of the Company aircraft by Mr. Hussey. This benefit is described under the heading “Perquisites
and Benefits” beginning on page 85.
(4) The Company sponsors a leased car and car allowance program. Under the leased car program, costs associated with using the vehicle are also provided. These include fuel costs,
maintenance, insurance and license and registration. Under the car allowance program, the executive receives a fixed monthly allowance. Going forward, the Company expects to utilize
only a car allowance program. All of the named executive officers other than Mr. Heil and Ms. Yoder, participate in the leased car program. Mr. Heil and Ms. Yoder each receive a $1,500
per month car allowance.
(5) Includes tax gross-up payments for the financial benefits received for the following executive benefits and perquisites: financial planning, executive life insurance, executive leased car
program, relocation and personal use of the company jet, as described under the heading “Tax Gross-Ups” beginning on page 86.
(6) Represents amounts contributed under the Company-sponsored 401(k) retirement plan.
(7) Represents the Company’s contribution to each participating named executive officers’ SERP account, consisting of annual contribution and 8.0% annual interest credit.
(8) In connection with the agreement to sell the Company’s Global Pet Supplies business segment, Mr. Heil’s accrued vacation was distributed to him in anticipation of the closing of that
transaction. The agreement to sell the Global Pet Supplies business segment was later terminated.
(9) In connection with the relocation of the Company’s corporate headquarters from Madison, Wisconsin to Atlanta, Georgia, Mr. Hussey was provided a cost of living differential allowance
in the amount of $3,000 per month.
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Source: Spectrum Brands, Inc, 10-K, December 10, 2008