This excerpt taken from the MRO DEF 14A filed Mar 13, 2007.
Base salary is a fundamental component of our total compensation for Officers. The Committee reviews Officer salaries annually based on the following criteria:
· Officer Performance Base salary adjustments are primarily determined upon the Officers performance, including living the Marathon values.
· Internal Equity The salary level for each individual Officer and each position in the overall management hierarchy is designed to reflect its relative value to us.
· External Competitiveness The salary for each position is designed to be at or near the median level for similar positions at peer companies.
We believe that positioning our base salaries within the range of the market median, coupled with our incentive programs and other benefits, allows us the ability to attract, retain and compete for top talent. Once an Officers salary approaches or exceeds the median range, increases are given only as necessary to reward performance and retain top talent.
This excerpt taken from the MRO DEF 14A filed Mar 10, 2005.
Salary administration for Marathon officers is based upon the following criteria:
Officers' salary increases are granted only if justified by performance and as deemed necessary to maintain salary level competitiveness. The annual bonus and long-term incentive programs, which are performance based, provide the primary opportunity for increased compensation levels.