2005 Executive Officer Salary Approval Summary for Dover Corporation
Dover Corporation's Compensation Committee approved the 2005 annual base salaries for its top five executive officers, effective January 1, 2005. The officers and their respective salaries are listed, with Ronald L. Hoffman named as President and CEO. The decision was based on performance reviews and market compensation data. This summary outlines the approved salaries and notes that CEO compensation was determined by the Compensation Committee and independent directors.
Exhibit 10.1
Summary of 2005 Named Executive Officer Salaries
On February 10, 2005, the Compensation Committee of the Board of Directors approved the annual base salaries (effective as of January 1, 2005) of the Company’s executive officers after reviewing their performance and competitive market compensation data. The following table sets forth the 2005 base salaries of the five executive officers with the highest 2005 base salaries.
| Name and Position | Year | Salary | ||||||
Ronald L. Hoffman* President and Chief Executive Officer | 2005 | $ | 1,000,000 | |||||
John E. Pomeroy Vice President of Dover Corporation; Director and President of Dover Technologies, Inc. | 2005 | $ | 685,000 | |||||
David J. Ropp Vice President of Dover Corporation; Director and President of Dover Resources, Inc. | 2005 | $ | 660,000 | |||||
Timothy J. Sandker Vice President of Dover Corporation; Director and President of Dover Industries, Inc. | 2005 | $ | 635,000 | |||||
Ralph S. Coppola Vice President of Dover Corporation; Director and President of Dover Systems, Inc. | 2005 | $ | 550,000 | |||||
| * | Mr. Hoffman became Chief Executive Officer effective January 1, 2005. CEO compensation is determined by the Compensation Committee together with the other independent directors. |
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