JCP » Topics » Base Salary

This excerpt taken from the JCP DEF 14A filed Apr 6, 2006.

Base Salary

Amounts paid as base salary, including merit salary increases, are determined by:

 

    The officer’s individual performance;
    Salary level within the established pay range for the individual’s position;
    Salaries offered by companies in our comparison group for comparable positions; and
    The terms of any existing employment agreement with the officer.

In discharging our duties with respect to setting base salaries for executive officers, we monitor the factors described above and periodically approve changes in base salary. Once base salary has been fixed, it does not vary based on the Company’s performance.

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