Earnings for Non-Qualified Defined Benefit and Non-Qualified Defined Contribution Plans
R. Gonzalez: $212,566 / $372,310 / $246,041; L. Schumacher: $341,999 / $621,724 / $420,337; C. Alban: $236,002 / $412,229 / $266,141; and M. Severino: $100,398 / $135,497 / $66,157.
Each of the NEOs’ awards under the AbbVie Performance Incentive Plan is paid in cash to the NEO on a current basis and, for eligible NEOs, may be deposited into a grantor trust established by the NEO, net of maximum tax withholdings. Each of the eligible NEOs has also established grantor trusts in connection with the AbbVie Supplemental Pension Plan and the AbbVie Supplemental Savings Plan. These amounts include earnings net of the reportable interest included in footnote (4).
Employer Contributions to Defined Contribution Plans
R. Gonzalez: $84,423 / $82,500 / $82,500; R. Michael: $14,250 / $14,000 / $13,750; L. Schumacher: $60,590 / $58,827 / $52,179; C. Alban: $60,590 / $58,827 / $50,826; and M. Severino: $68,496 / $66,500 / $55,030.
These amounts include AbbVie contributions to the AbbVie Savings Plan and the AbbVie Supplemental Savings Plan, as applicable. The Supplemental Savings Plan permits eligible NEOs to contribute amounts in excess of the annual limit set by the Internal Revenue Code for employee contributions to 401(k) plans up to the excess of (i) 18 percent of their base salary over (ii) the amount contributed to AbbVie’s tax-qualified 401(k) plan. AbbVie matches participant contributions at the rate of 250 percent of the first 2 percent of compensation contributed to the plan. The eligible NEOs have these amounts paid to them in cash on a current basis and deposited into a grantor trust established by the NEO, net of maximum tax withholdings.
Other 2020 Compensation
The totals shown in the table include the cost of providing a corporate automobile less the amount reimbursed by the NEO: R. Gonzalez: $19,982; R. Michael: $13,823; L. Schumacher: $12,127; C. Alban: $18,052; and M. Severino: $23,140. AbbVie imputes income to the NEO, if required, and the NEO pays taxes in accordance with tax regulations without gross-ups.
The totals shown in the table include a $10,000 financial planning services allowance for each NEO. AbbVie imputes income to the NEO, if required, and the NEO pays taxes in accordance with tax regulations without gross-ups.
The totals shown in the table include the following costs for non-business-related air travel and services: R. Gonzalez: $340,001; R. Michael; $11,321; L. Schumacher: $9,818; and M. Severino $14,884. AbbVie determines the incremental cost for flights based on the direct cost to AbbVie, including fuel costs, parking, handling and landing fees, catering, travel fees, and other miscellaneous direct costs. AbbVie imputes income to the NEO, if required, and the NEO pays taxes in accordance with tax regulations without gross-ups.
For Mr. Gonzalez, the total includes $92,614 for costs associated with security, determined based on AbbVie’s actual costs for such services. The security was provided on the recommendation of an independent security study and in accordance with the AbbVie security program. AbbVie imputes income to Mr. Gonzalez, if required, and he pays taxes in accordance with tax regulations without gross-ups.
The NEOs also are eligible to participate in an executive disability benefit, which is described on page 64 of this proxy statement.