Summary of 2011 Base Salary and Annual Incentive Compensation for Sherwin-Williams Named Executive Officers
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Summary
The Sherwin-Williams Company set the 2011 base salaries and annual incentive compensation targets for its top executive officers, including the CEO, President, CFO, and other senior leaders. The agreement outlines each executive's base salary and specifies the minimum, target, and maximum bonus percentages they can earn under the company's 2007 Executive Performance Bonus Plan. Bonus awards are based on performance and range from 0% up to 210% of base salary, depending on the executive's role and achievement of performance goals.
EX-10.D 2 l40789exv10wd.htm EX-10.D exv10wd
EXHIBIT 10(d)
SUMMARY OF BASE SALARY AND ANNUAL INCENTIVE
COMPENSATION PAYABLE TO NAMED EXECUTIVE OFFICERS
COMPENSATION PAYABLE TO NAMED EXECUTIVE OFFICERS
2011 Base Salary. On February 15, 2011, the Compensation and Management Development Committee (the “Compensation Committee”) of the Board of Directors of The Sherwin-Williams Company (“Sherwin-Williams”) set the 2011 base salaries of the executive officers who were named in the Summary Compensation Table of Sherwin-Williams’ 2010 Proxy Statement and who are expected to be named in the Summary Compensation Table of Sherwin-Williams’ 2011 Proxy Statement (the “Named Executive Officers”). The base salaries of the Named Executive Officers for 2011 are as follows: C.M. Connor, Chairman and Chief Executive Officer ($1,221,987); J.G. Morikis, President and Chief Operating Officer ($779,220); S.P. Hennessy, Senior Vice President — Finance and Chief Financial Officer ($587,704); S.J. Oberfeld, Senior Vice President — Corporate Planning and Development ($536,354); and T. W. Seitz, Senior Vice President — Strategic Excellence Initiatives ($495,482).
Annual Incentive Compensation to Be Earned in 2011. The Compensation Committee also approved the following minimum, target and maximum cash bonus award levels, as a percent of salary, for the Named Executive Officers for 2011 under The Sherwin-Williams Company 2007 Executive Performance Bonus Plan.
| Incentive Award as a Percentage of Base Salary | ||||||||||||
| Named Executive Officer | Minimum | Target | Maximum | |||||||||
C.M. Connor | 0 | 105 | 210 | |||||||||
J.G. Morikis | 0 | 75 | 150 | |||||||||
S.P. Hennessy | 0 | 75 | 150 | |||||||||
S.J. Oberfeld | 0 | 60 | 120 | |||||||||
T.W. Seitz | 0 | 60 | 120 | |||||||||
