Summary of Fiscal 2005 Salaries for the Named Executive Officers of Sigma-Aldrich Corporation
Exhibit 10.3
Summary of Fiscal 2005 Salaries
for the Named Executive Officers
of Sigma-Aldrich Corporation
The following table sets forth the fiscal 2005 salaries for each of the Company’s named executive officers:
| Fiscal 2005 Salary | |||
| David R. Harvey Chairman & Chief Executive Officer | $ | 725,000 | |
| Michael R. Hogan Chief Administrative Officer, Chief Financial Officer & Secretary | $ | 430,000 | |
| David W. Julien President, Biotechnology | $ | 310,000 | |
| Jai. P. Nagarkatti President & Chief Operating Officer, President Scientific Research | $ | 470,000 | |
| Frank D. Wicks President, SAFC | $ | 320,000 | |
The Company’s Compensation Committee reviews with the CEO an annual salary plan for the Company’s executive officers and then approves such plan with any modifications it deems appropriate. The Committee approves the salary plan after assessing the Company’s overall performance, including a general review of the operating results of the Company, its competitors and its peers, the executive officers’ responsibilities and performance and compensation received by executives in similar positions. The review of operating results is general in nature. In reviewing the individual executive officers’ responsibilities and performance, the Committee also considers their non-financial contributions to the Company, such as the quality and progress of research, marketing, production and process improvement activities. The Committee performs its review in a general, subjective manner with consideration given to all factors. The Committee generally believes that salaries for the Company’s executive officers should be at the 50th percentile of comparable companies if performance is similar to those peer companies. The named executive officers are eligible for cash bonuses up to 66.6% of their annual salaries.
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