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This excerpt taken from the LLTC DEF 14A filed Sep 23, 2009. Perquisites - While the Company seeks
to offer a level of perquisites sufficient to recruit and retain key executive
talent, the Company believes that setting appropriate levels of base and
variable pay are of greater importance to motivating key talent and increasing
stockholder return than any package of non-cash perquisites. The Company has a
fractional ownership in an aircraft operated by NetJets, Inc. So long as Mr.
Swanson is Executive Chairman of the Board, he is entitled to use the Company's
airplane for personal use for up to 35% of the available flight time in any
year. To the extent use of the airplane results in imputed taxable income to Mr.
Swanson, the Company makes additional payments to him, so that the net effect to
Mr. Swanson is the same as if no income were imputed to him. The personal use of
the airplane is included in the column labeled “All Other Compensation” in the
Summary Compensation Table on page 30. There are no other significant recurring
perquisites granted to any executive officers.
This excerpt taken from the LLTC DEF 14A filed Sep 23, 2008. Perquisites - While the Company seeks
to offer a level of perquisites sufficient to recruit and retain key executive
talent, the Company believes that setting appropriate levels of base and
variable pay are of greater importance to motivating key talent and increasing
stockholder return than any package of non-cash perquisites. The Company has a
fractional ownership in two different aircrafts operated by NetJets, Inc. So
long as Mr. Swanson is Executive Chairman of the Board, he is entitled to use
the Company’s airplane for personal use for up to 35% of the available flight
time in any year. To the extent use of the airplane results in imputed taxable
income to Mr. Swanson, the Company makes additional payments to him, so that the
net effect to Mr. Swanson is the same as if no income were imputed to him. The
personal use of the airplane is included in the column labeled “All Other
Compensation” in the Summary Compensation Table on page 20. There are no other
significant recurring perquisites granted to any executive officers.
This excerpt taken from the LLTC DEF 14A filed Sep 26, 2007. Perquisites - While the Company seeks
to offer a level of perquisites sufficient to recruit and retain key executive
talent, the Company believes that setting appropriate levels of base and
variable pay are of greater importance to motivating key talent and increasing
stockholder return than any package of non-cash perquisites. The Company has a
fractional ownership in two different aircraft operated by NetJets, Inc. So long
as Mr. Swanson is Executive Chairman of the Board, he is entitled to use the
Company's airplane for personal use for up to 35% of the available flight time
in any year. To the extent use of the airplane results in imputed taxable income
to Mr. Swanson, the Company makes additional payments to him, so that the net
effect to Mr. Swanson is the same as if no income were imputed to him. The
personal use of the airplane is included in the column labeled "All Other
Compensation” in the Summary Compensation Table on page 18. There are no other
significant recurring perquisites granted to the executive officers.
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