Summary of Executive Officer Salaries for Arch Coal, Inc. (2005–2006)
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Summary
This document outlines the base salaries for the named executive officers of Arch Coal, Inc. for the years 2005 and 2006. It lists the annual salaries for each executive and explains that salary adjustments are determined annually by the Personnel and Compensation Committee based on company and individual performance, market competitiveness, and changes in responsibilities. The document also notes that executive officers receive standard employee benefits and certain additional perks, such as financial planning reimbursement and club dues, with related tax compensation.
EX-10.1 2 c02687exv10w1.htm SUMMARY OF THE SALARIES FOR THE NAMED EXECUTIVE OFFICERS exv10w1
Exhibit 10.1
Summary of the Salaries
for the Named Executive Officers
of Arch Coal, Inc.
for the Named Executive Officers
of Arch Coal, Inc.
| Base Salary (1) (2) | ||||||||
| Name and Title of Executive Officer | 2006 | 2005 | ||||||
Steven F. Leer | $ | 750,000 | $ | 715,000 | ||||
President and Chief Executive Officer | ||||||||
John W. Eaves | 450,000 | 425,000 | ||||||
Executive Vice President and Chief Operating Officer | ||||||||
Robert J. Messey | 335,000 | 305,000 | ||||||
Senior Vice President and Chief Financial Officer | ||||||||
Robert G. Jones | 300,000 | 290,000 | ||||||
Vice President — Law, General Counsel and Secretary | ||||||||
C. Henry Besten Senior Vice President — Strategic Development | 265,000 | 250,000 | ||||||
| (1) | In the first quarter of each year, the Personnel and Compensation Committee meets to determine whether, based on overall company performance, individual performance, competitive compensation and target total compensation, base salaries for the named executive officers should be increased. Additionally, base salaries for the named executive officers will generally increase concurrent with an officer’s promotion or an increase in an officer’s responsibilities, as may be determined by the Personnel and Compensation Committee from time to time and recommended to the Board of Directors for approval. | |
| (2) | The Company also provides certain other benefits to its executive officers that are not tied to any formal individual or corporate performance objectives and are intended to be part of a competitive overall compensation program. For example, the Company maintains an employee thrift plan, a cash balance pension plan, insurance and other benefit plans for its employees. Executive officers participate in these plans on the same terms as other eligible employees, subject to any legal limits on the amounts that may be contributed by or paid to executives under the plans. In addition, the Company reimburses certain executive officers for financial planning services and club dues, and the Company also pays certain executive officers an additional amount sufficient to compensate him or her for the taxes arising as a result of the perquisites the Company provides. |
