Sunoco 2012 Annual Report Download - page 146

(3) Although the financial counseling allowances were discontinued effective January 1, 2007, the NEOs may
use any remaining amounts that were accrued prior to 2005, until the balance has been depleted. This
amount reflects the aggregate remaining balance.
OTHER POTENTIAL POST-EMPLOYMENT PAYMENTS
Certain plans, described below, provide for payments of benefits to the NEOs in connection with
termination, or separation from employment, retirement, or a change in control of our general partner, or in some
cases, Sunoco. The actual amounts paid can be determined only at the time of such NEO’s separation from
employment with our general partner. The following describes the benefits that the NEOs would receive if such
an event occurred. As current or former employees of Sunoco, Ms. Elsenhans and Messrs. Colavita and
MacDonald participate in Sunoco’s corresponding severance and termination plans. To the extent that they
participate in such Sunoco plans, they are not eligible to participate in, or to receive benefits from, our general
partner’s Special Executive Severance Plan, or Executive Involuntary Termination Plan. Since we did not
reimburse Sunoco for any expense relating to the participation of Ms. Elsenhans and Messrs. Colavita and
MacDonald in these Sunoco plans, and since they are not currently eligible to participate in our corresponding
plans, we have not provided any disclosure with regard to potential benefits payable to Ms. Elsenhans and
Messrs. Colavita and MacDonald under the general partner’s Special Executive Severance Plan, or Executive
Involuntary Termination Plan. Mr. Salinas is employed by the general partner of Energy Transfer Partners, L.P.,
and he does not participate in participate in the retirement, severance, or termination plans either of Sunoco, or of
our general partner.
•Retirement: The benefits paid to the NEOs upon retirement are described above, on pages 139 to 142.
•Voluntary Termination: An NEO who resigns and leaves voluntarily, would receive the following benefits:
•Sunoco, Inc. Retirement Plan (the “SCIRP”) and Pension Restoration Plan: Retirement eligible NEOs
hired prior to January 1, 1987 (Messrs. Colavita and Hennigan) would receive benefits based upon the
Final Average Pay formula of the SCIRP, which is a qualified defined benefit retirement plan.
Effective January 1, 1987, for employees hired subsequent to that date, the SCIRP was converted from
a final average pay plan to a cash balance pension plan. SCIRP benefits for NEOs hired after this
conversion (Ms. Elsenhans, Ms. Shea-Ballay and Mr. MacDonald) are calculated using the Career Pay
formula, based on a percentage of pay each year and an indexing adjustment. Normal retirement age
under the SCIRP is 65 years. To the extent that the amount payable exceeds the maximum amount that
may be paid under the SCIRP, the remaining amount would be paid under the Pension Restoration
Plan. Effective June 30, 2010, Sunoco froze pension benefits for all salaried and many non-union
employees. This freeze also applies to the NEOs.
•Sunoco, Inc. Executive Retirement Plan (the “SERP”): The SERP provides pension benefits over and
above benefits that may be paid under the SCIRP to participants who are at least 55 years of age, with a
minimum of five years service as an executive. SERP benefits are offset by benefits payable under
other qualified or non-qualified plans of Sunoco, Inc. The maximum benefit payable under any SERP
formula cannot exceed 50 percent of final average earnings.
•Sunoco Partners LLC Long-Term Incentive Plan (the “LTIP”): Under the LTIP, if an NEO is not
retirement eligible, outstanding performance-based restricted units would be cancelled as of the
termination date. If an NEO is eligible for retirement, unvested restricted units would continue to vest,
and would pay out, along with the accompanying distribution equivalent rights, if the performance
measures are met.
•Sunoco Partners LLC Annual Incentive Plan: If an NEO voluntarily terminates employment prior to
December 31 of the plan year, other than by retirement, he or she would not receive any incentive
award for that year.
•Vacation Benefits: Each NEO would be entitled to receive payment for his or her accrued vacation,
which benefit is generally provided to active employees of the Partnership’s general partner.
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