Base Salary Adjustment Approval for Named Executive Officers of Elizabeth Arden, Inc.
Elizabeth Arden, Inc.'s Compensation Committee approved increases in the base salaries of its named executive officers, effective April 1, 2006. The officers affected include the Chairman and CEO, President and COO, and several Executive Vice Presidents. The adjustments were made as part of the company's annual executive compensation review. The new salaries and the amount of each increase are specified for each executive.
Exhibit 10.23
Base Salary Adjustments for Named Executive Officers
As part of their annual review of executive base compensation, the Compensation Committee of the Board of Directors (the "Committee") of Elizabeth Arden, Inc. (the "Company") at a March 30, 2006 meeting, approved increases in the base salary paid by the Company to its named executive officers (defined in Regulation S-K Item 402(a)(3) and as set forth in the Company's Proxy Statement dated October 7, 2005 (the "Named Executives")) effective as of April 1, 2006, as follows:
Named Executive Position Prior Change Current Salary($) E. Scott Beattie Chairman of the Board and $ 700,000 $ 28,000 $ 728,000 Paul West President and Chief Operating $ 475,000 $ 19,050 $ 494,050 Stephen J. Smith Executive Vice President and $ 350,000 $ 10,000 $ 360,000 Ronald Rolleston Executive Vice President, $ 320,000 $ 10,000 $ 330,000 Jacobus A.J. Steffens Executive Vice President and $ 399,590 $ 10,410 $ 410,000
Salary
Chief Executive Officer
Officer
Chief Financial Officer
Global Marketing
General Manager -- International
