Compensation Arrangements for Named Executive Officers of United States Steel Corporation (Effective May 1, 2005)
United States Steel Corporation has set new annual base salaries for its named executive officers, effective May 1, 2005, as approved by the Board's Compensation & Organization Committee. The agreement lists specific salary amounts for five executives and outlines additional benefits, including limited personal use of corporate aircraft, access to corporate properties and event tickets, club memberships, financial planning and tax services, and parking. These arrangements define the compensation and certain perquisites for the company's top executives.
Exhibit 10.3
CERTAIN COMPENSATION ARRANGEMENTS FOR NAMED EXECUTIVE OFFICERS
On April 25, 2005, the Compensation & Organization Committee of the Board of Directors approved the following annual base salaries for the named executive officers (as defined in Item 402(a)(3) of Regulation S-K) of United States Steel Corporation, such base salaries to become effective on May 1, 2005:
| J. P. Surma | $ | 925,000 | |
| D. D. Sandman | $ | 555,000 | |
| J. H. Goodish | $ | 575,000 | |
| G. R. Haggerty | $ | 470,000 | |
| J. J. Connelly | $ | 360,000 |
Each of the named executive officers listed above is also provided with the following perquisites: occasional personal use of corporate aircraft, corporate properties and sports and cultural tickets; club memberships; financial planning and tax preparation services; and a parking space.
