SUMMARY OF THE COMPENSATION OF EXECUTIVE OFFICERS OF SIGMA-ALDRICH CORPORATION
Exhibit 10(u)
SUMMARY OF THE COMPENSATION OF EXECUTIVE OFFICERS OF SIGMA-ALDRICH CORPORATION
The following table presents compensation information for the Chief Executive Officer and the four other most highly compensated executive officers based on salary and bonus in 2005 for the years ended December 31, 2005, 2004 and 2003:
Summary Compensation Table
| Annual Compensation | Long-Term Compensation | |||||||||||||||||||||
| Name/Position | Year | Salary | Bonus (1) | Other Annual Comp. (2)(3) | Restricted Stock Award (4) | Securities Underlying Options (#) | LTIP Payouts (2) | All Other Comp. (8) | ||||||||||||||
| David R. Harvey (5) | 2005 | $ | 725,000 | $ | 584,249 | — | — | 50,000 | — | $ | 8,160 | |||||||||||
| Chairman of the Board | 2004 | 725,000 | 449,051 | — | $ | 1,501,164 | 90,000 | — | 7,980 | |||||||||||||
| 2003 | 725,000 | 298,401 | $ | 122,841 | — | 50,000 | $ | 195,400 | 7,800 | |||||||||||||
| Michael R. Hogan | 2005 | 430,000 | 260,150 | — | — | 10,000 | — | 41,460 | ||||||||||||||
| Chief Administrative Officer, | 2004 | 430,000 | 199,950 | — | — | 20,000 | — | 41,280 | ||||||||||||||
| Chief Financial Officer and Secretary | 2003 | 430,000 | 132,870 | — | — | 20,000 | — | 7,800 | ||||||||||||||
| David W. Julien (6) | 2005 | 310,000 | 187,550 | — | — | 10,000 | — | 34,260 | ||||||||||||||
| President, Research Specialties | 2004 | 310,000 | 144,150 | — | — | 20,000 | — | 34,080 | ||||||||||||||
| 2003 | 310,000 | 95,790 | — | — | 20,000 | — | 7,800 | |||||||||||||||
| Jai P. Nagarkatti (7) | 2005 | 470,000 | 341,220 | — | — | 17,500 | — | 179,060 | ||||||||||||||
| President and | 2004 | 366,875 | 262,260 | — | — | 20,000 | — | 41,280 | ||||||||||||||
| Chief Executive Officer | 2003 | 305,000 | 94,245 | 33,781 | — | 20,000 | 53,735 | 7,800 | ||||||||||||||
| Franklin D. Wicks | 2005 | 320,000 | 193,600 | — | — | 10,000 | — | 34,860 | ||||||||||||||
| President, SAFC | 2004 | 320,000 | 148,800 | — | — | 20,000 | — | 34,680 | ||||||||||||||
| 2003 | 320,000 | 98,880 | 33,781 | — | 20,000 | 53,735 | 7,800 | |||||||||||||||
| (1) | Amounts are earned and accrued during the fiscal years indicated and are paid subsequent to the end of each fiscal year pursuant to the Company’s Cash Bonus Plan. |
| (2) | The value of shares issued under the Incentive Stock Bonus Plan in 2003 relates to performance in 1997 and are presented as long term incentive plan (“LTIP”) payouts. Such values represent the aggregate market value of shares of common stock issued on the payout date. Cash payouts to cover Federal income taxes related to the issuance of such shares are presented as other annual compensation. No awards are outstanding under this plan and no future awards will be issued under this plan. |
| (3) | Excludes the value of personal use of automobiles and club memberships provided by the Company, the amounts of which are immaterial for each executive officer. |
| (4) | Represents the value of 25,900 shares of restricted stock issued on February 10, 2004 pursuant to Dr. Harvey’s Employment Agreement. These awards became fully vested on January 1, 2006. As of December 31, 2005, the 25,900 shares of restricted stock were valued at $1,639,211. Dividends are paid on restricted stock. |
| (5) | Effective January 1, 2006, David R. Harvey became the Chairman of the Board of Directors. Previously, he served as both the Chairman of the Board of Directors and Chief Executive Officer of the Company. |
| (6) | Effective July 11, 2005, David W. Julien became the President of Research Specialties. Previously, he served as President of Biotechnology. |
| (7) | Effective January 1, 2006, Jai P. Nagarkatti became both the President and Chief Executive Officer of the Company. Previously he served as both the President and Chief Operating Officer. |
| (8) | Represents amounts contributed for each executive officer under the Company’s 401(k) Retirement Savings Plan in 2005, 2004 and 2003, respectively, and under the Supplemental Retirement Plan in 2005 and 2004. |
Exhibit 10(u) (continued)
The components of All Other Compensation are presented in the following table:
All Other Compensation
| Name/Position | Year | 401(k) Retirement Savings Plan | Supplemental Retirement Plan | Total | |||||||
| David R. Harvey | 2005 | $ | 8,160 | — | $ | 8,160 | |||||
| 2004 | 7,980 | — | 7,980 | ||||||||
| 2003 | 7,800 | — | 7,800 | ||||||||
| Michael R. Hogan | 2005 | 8,160 | $ | 33,300 | 41,460 | ||||||
| 2004 | 7,980 | 33,300 | 41,280 | ||||||||
| 2003 | 7,800 | — | 7,800 | ||||||||
| David W. Julien | 2005 | 8,160 | 26,100 | 34,260 | |||||||
| 2004 | 7,980 | 26,100 | 34,080 | ||||||||
| 2003 | 7,800 | — | 7,800 | ||||||||
| Jai P. Nagarkatti | 2005 | 8,160 | 170,900 | 179,060 | |||||||
| 2004 | 7,980 | 33,300 | 41,280 | ||||||||
| 2003 | 7,800 | — | 7,800 | ||||||||
| Franklin D. Wicks | 2005 | 8,160 | 26,700 | 34,860 | |||||||
| 2004 | 7,980 | 26,700 | 34,680 | ||||||||
| 2003 | 7,800 | — | 7,800 | ||||||||
