Rayovac 2008 Annual Report Download - page 96

Table of Contents
Index to Financial Statements
All Other Compensation Table
(Fiscal 2007)
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(8)
Earned
Severance
Pay
Relocation
Expenses
Provided to
Executive(9) Total
Mr. Hussey $ 31,000 $ 11,198 $ 10,000 $ 21,775 $ 9,846 $ 39,110 $ 9,000 $ 78,750 $ — $ 36,000 $ — $ — $ 246,679
Mr. Genito $ 11,200 $ 1,150 $ — $ — $ 11,797 $ 9,462 $ 12,770 $ — $ — $ — $ — $ — $ 46,379
Mr. Lumley $ 30,000 $ 3,603 $ — $ — $ 6,750 $ 100,194 $ 15,250 $ 75,000 $ — $ — $ — $ 153,637 $ 384,434
Mr. Heil $ 11,273 $ 4,358 $ — $ — $ 18,000 $ 2,356 $ 20,518 $ 60,000 $ — $ — $ — $ — $ 116,505
Ms. Yoder $ 1,000 $ — $ — $ — $ 9,000 $ — $ — $ — $ — $ — $ — $ — $ 10,000
(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, with
the exception of Ms. Yoder, whose coverage became effective in Fiscal 2008.
(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. For Mr. Heil, the total includes Company profit sharing-based contribution based on 2006 results.
None of the other named executive officers are eligible for such a profit sharing-based contribution.
(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 relocation of the Company’s corporate headquarters from Madison, Wisconsin to Atlanta, Georgia, Mr. Hussey was provided cost of living differential allowances in
the amounts of $3,000 per month.
(9) Represents the expenses incurred for the relocation of Mr. Lumley to Madison, Wisconsin. The amount includes a $75,000 cash payment related to the sale price for Mr. Lumley’s prior
residence.
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Source: Spectrum Brands, Inc, 10-K, December 10, 2008