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This excerpt taken from the PBG DEF 14A filed Mar 31, 2006. Other Benefits/
Perquisites. During 2005,
Mr. Cahill participated in the same pension (both qualified
and non-qualified), 401(k), and health and welfare programs as
are provided to other employees. Based on Mr. Cahill’s
service through December 31, 2005, the monthly value of a
single life annuity (deferred vested benefit) payable to
Mr. Cahill under the Company’s pension plans was
approximately $13,700 commencing at age 55 or $36,994
commencing at age 65. Mr. Cahill also participates in
the Deferral Program, under which Mr. Cahill has electively
deferred a portion of his base salary and annual bonus for most
of his 17 years with PepsiCo and PBG.
Mr. Cahill’s account balance is based solely on his
own contributions (plus earnings on those contributions) and is
fully vested. As of December 31, 2005,
Mr. Cahill’s account balance under the Deferral
Program was $6,865,097, a substantial portion of which is
invested in PBG phantom stock units. Mr. Cahill was also
eligible for certain limited perquisites and personal benefits
(consisting of a car allowance, financial advisory services,
personal use of corporate transportation and an annual
physical), which the Committee believes are reasonable. The
aggregate value of these perquisites and personal benefits in
2005 was $33,674. As indicated in the Other Annual Compensation
column of the Summary Compensation Table on page 11, the
Company provided payment of Mr. Cahill’s tax liability
incurred in connection with each of these perquisites other than
personal use of corporate transportation.
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