Salary Actions. In connection with the previously announced decision to defer the retirement of The Chubb Corporations Chief Operating Officer, John J. Degnan, until December 31, 2010, the Organization & Compensation Committee of The Chubb Corporation (the Committee) undertook a comprehensive review of the compensation of certain of its named executive officers during the third quarter of 2009. As a result of that analysis, the Committee approved on September 2, 2009 increases to the base salaries of the following named executive officers: John J. Degnan, Paul J. Krump, Harold L. Morrison, Jr. and Dino E. Robusto. A schedule of the salaries for Messrs. Degnan, Krump, Morrison and Robusto is as Exhibit 10.1 and incorporated by reference into this Item 5.02
EX-10.1 2 y79154exv10w1.htm EX-10.1 exv10w1
Exhibit 10.1
Schedule of
Salary Actions
Salary Actions
| Name | Current Salary | Increase | Percentage Increase | New Salary* | ||||||||||||
John J. Degnan | $ | 825,000 | $ | 49,500 | 6 | % | $ | 874,500 | ||||||||
Paul J. Krump | $ | 550,000 | $ | 30,000 | 5.5 | % | $ | 580,000 | ||||||||
Harold L. Morrison, Jr. | $ | 480,000 | $ | 30,000 | 6.3 | % | $ | 510,000 | ||||||||
Dino E. Robusto | $ | 450,000 | $ | 60,000 | 13.3 | % | $ | 510,000 | ||||||||
| * | Effective as of September 1, 2009. |
