Rayovac 2009 Annual Report Download - page 102

Table of Contents
Index to Financial Statements
section entitled “One−Time Cash Bonus Payment”. For Fiscal 2009, this column also reflects amounts paid to the current named executive officers
pursuant to the non−performance based supplement to the Cash LTIP for Fiscal 2008 instituted in November 2009. For additional information, please
see the section entitled “Cash−Based Long Term Incentive Plan”. Finally, for Fiscal 2009, this column reflects payments made in January 2009 to the
current named executive officers pursuant to retention agreements entered into with each of those officers. For additional information, please see the
section entitled “Retention Agreements”.
(3) Mr. Genito received a cash payment in December 2006 under the Company’s spot award program, prior to the time Mr. Genito became a member of
the Spectrum Leadership Team, the Company’s executive committee. As a member of the Spectrum Leadership Team, Mr. Genito is no longer
eligible for such awards.
(4) In Fiscal 2009, Mr. Hussey received a restricted stock award, which was granted under the 2004 Rayovac Incentive Plan and was strictly performance
based. No other named executive officer received a stock award in Fiscal 2009. In Fiscal 2008, restricted stock awards were granted under the 2004
Rayovac Incentive Plan, with the majority of the awards being strictly performance−based. In Fiscal 2007, restricted stock awards were granted under
the 1997 Rayovac Incentive Plan and the 2004 Rayovac Incentive Plan with the majority of the awards being strictly performance−based. Upon the
Company’s emergence from Chapter 11 of the Bankruptcy Code and pursuant to the Company’s Plan of Reorganization, all existing equity securities
of the Company as of the Effective Date, including all shares underlying the amounts reflected in this column, were extinguished. This column
reflects the dollar amount recognized for financial statement reporting purposes for Fiscal 2009, Fiscal 2008 and Fiscal 2007 in accordance with ASC
718. For Fiscal 2009, no expense amount was recorded with respect to grants made in Fiscal 2009. See Note 3(w), Stock Compensation, of Notes to
Consolidated Financial Statements included in this Annual Report on Form 10−K for additional information as to the assumptions used in the
valuation of these awards.
(5) This column reflects the dollar amount recognized for financial statement reporting purposes for Fiscal 2007 in accordance with ASC 718. See Note
3(w), Stock Compensation, of Notes to Consolidated Financial Statements included in this Annual Report on Form 10−K for additional information
as to the assumptions used in the valuation of these awards. Amount reflected for Mr. Hussey for Fiscal 2007 includes acceleration of expense relating
to the vesting of 168,941 restricted shares in connection with Mr. Hussey’s replacement as President and Chief Operating Officer prior to the time he
was appointed Chief Executive Officer.
(6) Represents actual cash payments under (i) for Fiscal 2009 and Fiscal 2008, the Company’s Management Incentive Plan and Long Term Incentive
Plan earned in Fiscal 2009 and Fiscal 2008, respectively, and (ii) for Fiscal 2007, the Company’s Management Incentive Plan earned in Fiscal 2007.
For additional detail on the plan and the determination of the cash awards thereunder, please refer to the discussion under the heading “Management
Incentive Plan”, under the heading “Cash−Based Long Term Incentive Plan”, and the table entitled “Grants of Plan−Based Awards” and its
accompanying footnotes.
(7) In addition to the amounts reflected in this column, in November 2006, Mr. Heil received a Management Incentive Plan award for Fiscal 2006 in the
amount of $78,103. Mr. Heil was the only named executive officer to receive an award for Fiscal 2006.
(8) Amounts reflected represent the aggregate above−market increase of the actuarial value of the named executive’s benefit under the Company’s
Supplemental Executive Retirement Plan. See Note 11, Employee Benefit Plans, of Notes to Consolidated Financial Statements included in this
Annual Report on Form 10−K for additional information as to the assumptions used in the valuation of this plan.
(9) Please see the following tables for the details of the amounts that comprise the All Other Compensation column:
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