Attached files
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| 8-K - RBC Bearings INC | v206467_8k.htm |
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SUMMARY
COMPENSATION
Amended
and Restated as of December 22, 2010
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Change
in
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Pension
Value
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and
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Nonqualified
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Non-Equity
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Deferred
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Stock
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Option
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Incentive
Plan
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Compensation
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All
Other
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Salary
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Bonus
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Awards
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Awards
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Compensation
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Earnings
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Compensation
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Total
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Name
and Principal Position
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Year
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($)
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($)
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($)
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($)
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($)
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($)
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($)
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($)
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(a)
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(b)
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(c)(1)
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(d)(2)
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(e)(3)
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(f)(3)
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(g)(4)
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(h)
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(i)
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(j)
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Michael
J. Hartnett
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2010
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643,580
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-
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568,250
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846,000
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-
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-
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31,483
(5)
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2,089,313
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2009
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668,156
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-
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509,250
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767,000
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830,142
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-
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48,887
(5)
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2,823,435
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2008
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635,506
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-
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797,750
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1,274,000
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1,312,684
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-
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103,489
(5)
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4,123,429
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Daniel
A. Bergeron
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2010
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248,200
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-
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68,190
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169,200
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50,000
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-
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6,000
(6)
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541,590
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2009
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260,000
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-
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61,110
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153,400
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90,000
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-
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20,930
(6)
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585,440
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2008
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245,500
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-
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95,730
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254,800
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135,000
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-
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18,324
(6)
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749,354
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Thomas
C. Crainer
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2010
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240,986
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-
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68,190
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211,500
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50,000
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-
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6,647
(7)
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577,323
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2009
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255,000
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-
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61,110
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191,750
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114,750
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-
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19,423
(7)
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642,033
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2008
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221,750
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-
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95,730
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318,500
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140,000
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-
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25,957
(7)
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801,937
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Richard
J. Edwards
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2010
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230,320
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-
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68,190
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169,200
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25,000
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-
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7,417
(8)
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500,127
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2009
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245,000
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-
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61,110
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153,400
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50,000
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-
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16,432
(8)
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525,942
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2008
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238,333
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-
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63,820
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152,880
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75,000
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-
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20,950
(8)
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550,983
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Thomas
J. Williams
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2010
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194,465
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-
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34,095
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84,600
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45,000
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-
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-
(9)
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358,160
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2009
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206,625
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-
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30,555
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76,700
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45,000
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-
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2,402
(9)
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361,282
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2008
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197,917
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-
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-
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127,400
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90,000
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-
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12,231
(9)
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427,548
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(1)
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Column
(c) includes amounts deferred by the officer pursuant to a 401(k)
Plan.
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(2)
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Bonuses
for fiscal 2010, fiscal 2009 and fiscal 2008 were paid under the Company’s
incentive compensation plan and are reflected in column
(g).
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(3)
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The
amounts in columns (e) and (f) represent the fair market value on the date
of grant of restricted shares and non qualified stock options granted each
year.
On December 16, 2009, the
Securities and Exchange Commission (SEC) approved new proxy disclosure
rules for Proxy Statements issued after February 28, 2010. The revised
rules require that the summary compensation table include the aggregate
grant date fair value of all stock and option awards granted in each year,
rather than attributing the cost to a particular year as determined in
accordance with FAS 123(R) (now ASC 718), which was the method of valuing
the grants in previous Proxy
Statements.
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(4)
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The
amounts in column (g) consist of annual cash bonuses earned in fiscal
2010, fiscal 2009 and fiscal 2008 and paid in the following fiscal year
under the Company’s incentive compensation
plan.
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(5)
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Consists
of a leased vehicle of $1,483 in fiscal 2010, $2,278 in fiscal 2009 and
$3,580 in fiscal 2008, employer match contributed to Mr. Hartnett’s
SERP account of $43,756 in fiscal 2008, healthcare expense reimbursed of
$16,609 in fiscal 2009, Company-paid life insurance premiums of $29,100 in
fiscal 2008, and reimbursement of personal expenses per Mr.
Hartnett’s employment agreement of $30,000 in fiscal 2010 and fiscal 2009
and $27,053 in fiscal 2008.
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(6)
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Consists
of a vehicle allowance of $6,000 in fiscal 2010, fiscal 2009 and fiscal
2008, employer match contributed to Mr. Bergeron’s SERP account of $12,024
in fiscal 2009, $12,324 in fiscal 2008, and employer match contributions
to Mr. Bergeron’s 401(k) account of $2,906 in fiscal
2009.
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(7)
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Consists
of employer match contributed to Mr. Crainer’s 401(k) account of $598 in
fiscal 2009, $5,848 in fiscal 2008, employer match contributed to Mr.
Crainer’s SERP account of $11,870 in fiscal 2009 and $13,122 in fiscal
2008 , Company-paid life insurance premiums of $783 in fiscal 2010, fiscal
2009 and fiscal 2008, a leased vehicle of $1,343 in fiscal 2010 and $1,204
in fiscal 2009 and fiscal 2008, healthcare expense reimbursements of
$4,521 in fiscal 2010, $4,968 in fiscal 2009 and $5,000 in fiscal
2008.
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(8)
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Consists
of employer match contributed to Mr. Edwards’ 401(k) account of $3,209 in
fiscal 2009 and $4,372 in fiscal 2008, employer match contributed to Mr.
Edwards’ SERP account of $6,188 in fiscal 2009 and $5,128 in fiscal 2008,
Company-paid life insurance premiums of $1,805 in fiscal 2010, fiscal 2009
and fiscal 2008, and a leased vehicle of $5,612 in fiscal 2010, $5,230 in
fiscal 2009 and $9,645 in fiscal
2008.
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(9)
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Consists
of employer match contributed to Mr. Williams’ 401(k) account of $2,402 in
fiscal 2009 and $2,810 in fiscal 2008, and employer match contributed to
Mr. Williams’ SERP account of $9,421 in fiscal
2008.
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