Paint Stores Group: Sherwin-Williams, ProMar, SuperPaint, A-100, PrepRite, Classic 99, ProClassic, Duration, Master Hide, ExpressTech, Duron, Columbiatm and MABtm
EX-10.C 2 l34437aexv10wc.htm EX-10(C) EX-10(C)
EXHIBIT 10(c)
SUMMARY OF BASE SALARY AND ANNUAL INCENTIVE
COMPENSATION PAYABLE TO NAMED EXECUTIVE OFFICERS
COMPENSATION PAYABLE TO NAMED EXECUTIVE OFFICERS
2009 Base Salary. On February 17, 2009, the Compensation and Management Development Committee (the Compensation Committee) of the Board of Directors of The Sherwin-Williams Company (Sherwin-Williams) set the 2009 base salaries of the executive officers who were named in the Summary Compensation Table of Sherwin-Williams 2008 Proxy Statement and who are expected to be named in the Summary Compensation Table of Sherwin-Williams 2009 Proxy Statement (the Named Executive Officers). The base salaries of the Named Executive Officers for 2009 are as follows: C.M. Connor, Chairman and Chief Executive Officer ($1,221,987); J.G. Morikis, President and Chief Operating Officer ($705,566); S.J. Oberfeld, President, Paint Stores Group ($512,999); S.P. Hennessy, Senior Vice President Finance and Chief Financial Officer ($539,127); and T. W. Seitz, Senior Vice President Strategic Excellence Initiatives ($473,907).
Annual Incentive Compensation to Be Earned in 2009. 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 2009 under The Sherwin-Williams Company 2007 Executive Performance Bonus Plan based upon each Named Executive Officer achieving 0%, 100% and 125%, respectively, of his performance goals.
Incentive Award as a Percentage of Base Salary | ||||||
Named Executive Officer | Minimum | Target | Maximum | |||
C.M. Connor | 0 | 95 | 190 | |||
J.G. Morikis | 0 | 75 | 150 | |||
S.J. Oberfeld | 0 | 60 | 120 | |||
S.P. Hennessy | 0 | 75 | 150 | |||
T.W. Seitz | 0 | 60 | 120 |