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This excerpt taken from the DLM DEF 14A filed Aug 19, 2009. Salary
As discussed in “Compensation Discussion and
Analysis,” the Compensation Committee generally reviews
executive officer salaries in September. Any adjustments made by
the Committee at that time are typically implemented effective
September 1. Accordingly, for Messrs. Wolford, Meyers,
Cole, and Allen, salary for fiscal 2009 reflects approximately
four months compensation at the salary level established in
September 2007 and eight months compensation at the salary level
established in September 2008. Mr. Lommerin was appointed
Chief Operating Officer in January 2008 and in connection with
this appointment received an increase in base salary effective
January 1, 2008. Accordingly, for Mr. Lommerin, salary
for fiscal 2009 reflects approximately four months compensation
at the salary level established in January 2008 and eight months
compensation at the salary level established in September 2008.
The amounts reported as salary include cash allowances that were
paid in lieu of discontinued in-kind perquisites. In fiscal
2009, the cash allowance for Mr. Wolford was $42,000; the
cash allowance for each of Messrs. Meyers, Lommerin and
Cole was $36,000; and the cash allowance for Mr. Allen was
$30,000. The Company does not consider such cash allowances as
eligible salary for purposes of the Del Monte Foods Company
Annual Incentive Program or similar plans.
This excerpt taken from the DLM DEF 14A filed Aug 7, 2008. Salary
As discussed in “Compensation Discussion and
Analysis,” the Compensation Committee generally reviews
executive officer salaries in September. Any adjustments made by
the Committee at that time are typically
Table of Contents
implemented effective September 1. Accordingly, for
Messrs. Wolford, Meyers, Cole and Allen, salary for fiscal
2008 reflects approximately four months compensation at the
salary level established in September 2006 and eight months
compensation at the salary level established in September 2007.
Mr. Lommerin was appointed Chief Operating Officer in
January 2008 and in connection with this appointment received an
increase in base salary effective January 1, 2008.
Accordingly, for Mr. Lommerin, salary for Fiscal 2008
reflects approximately four months compensation at the salary
level established September 2006, four months compensation at
the salary level established in 2007, and four months
compensation at the salary level established in January 2008.
The amounts reported as salary include cash allowances that were
paid in lieu of discontinued in-kind perquisites. In fiscal
2008, the cash allowance for Mr. Wolford was $42,000; the
cash allowance for each of Messrs. Meyers, Lommerin and
Cole was $42,000; and the cash allowance for Mr. Allen was
$30,000. The Company does not consider such cash allowances as
eligible salary for purposes of the Del Monte Foods Company
Annual Incentive Plan or similar plans.
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