2015 Proxy Statement - PDF document

2015 Proxy Statement  63 COMPENSATION Compensation Tables Aircraft Usage The Company owns and operates business aircraft to allow employees to safely and efciently travel for business purposes around the world. business imperative for senior leaders to be on the ground at our global operations. The Companyowned aircraft allow employees to be far more productive than if commercial ights were utilized, as the aircraft provide a condential and highly productive environment in which to conduct business without the schedule constraints imposed by commercial airline service. The Company aircraft are made available to the Named Executive Ofcers for their personal use in the following situations: Company aircraft is the Board’s strongly preferred method for all travel by Mr. Kent, for both business and personal travel. This is for security purposes due to the high prole and global nature of our business and our highly symbolic and wellrecognized to respond to business priorities from any location around the world. This arrangement also allows travel time to be used productively for the Company. Mr.Kent and his immediate family traveling with him use the Company aircraft for a reasonable number of personal trips. Personal use of Company aircraft results in imputed taxable income. Mr.Kent is not provided a tax reimbursement for personal use of aircraft. No other Named Executive Ofcer uses Company aircraft for personal purposes except in extraordinary circumstances. Company aircraft was not used solely for personal purposes by the other Named Executive Ofcers in 2014. Infrequently, spouses and guests of Named Executive Ofcers ride along on the Company aircraft when the aircraft is already use has minimal cost to the Company and, where applicable, a nominal amount is included in the All Other Compensation table above. Income is imputed to the Named Executive Ofcer for income tax purposes, but no tax reimbursement is provided since such persons are not traveling for a business purpose. In determining the incremental cost to the Company of the personal use of Company aircraft, the Company calculates, for each aircraft, the direct variable operating cost on an hourly basis, including all costs that may vary by the hours own. Items included in calculating this cost are as follows:  – aircraft fuel and oil;  – travel, lodging and other expenses for crew;  –  – prorated amount of rental fee on airplane hangar;  – catering;  – logistics (landing fees, permits, etc.);  – telecommunication expenses and other supplies;and  – the amount, if any, of disallowed tax deductions associated with such use. When the aircraft is already ying to a destination for business purposes, only the direct variable costs associated with the additional passenger (for example, catering) are included in determining the rarely, if an aircraft ies empty before picking up or after dropping off a passenger ying for personal reasons, this “deadhead” segment would be included in the incremental cost. Car and Driver Mr.Kent is provided with a car and driver in the U.S. both for security purposes and to maximize his efficiency during business hours. When not being utilized by Mr.Kent, the car and driver are used for other Company business. However, the Company has included the entire cost of the car and driver, including all salary, benefits and related employment costs. A car and driver are made available to Messrs.Kent and Bozer in Turkey for security purposes. No other Named Executive Officer is provided with a car or driver. Security paid security personnel. Mr.Bozer, who was based in Turkey prior to 2013, is provided with security at his residence in Turkey. No other Named Executive Ofcer is provided with Companypaid security, except where necessary when traveling overseas. International Service Program Benefits The Company provides benets to globally mobile associates under various international service programs, the material provisions of which are described on page 77 . These programs are designed to relocate and support employees who are sent on an assignment outside of their home country. The purpose of the programs is to make sure that when the Company requests that an employee move outside his or her home country, economic considerations do not play a role. This helps the Company quickly meet its business needs around the world and develop its employees. Mr. Finan, who is based in Atlanta, outside his home country, participated in an international service program in 2014. The amounts reported include payments for housing expenses, home leave, tax equalization, currency protection and other program allowances. Prior to January 1, 2013, Mr.Bozer participated in an international service program because he was a U.S.citizen based in Turkey. Currently, Mr. Bozer is based in the U.S. and therefore no longer participates in this program. However, certain benets and payments related to his prior assignments and his relocation to the U.S. were paid in 2014 and may be paid in future years. COMPENSATION