This excerpt taken from the NWL DEF 14A filed Mar 28, 2005.
Base Salary. In the early part of each fiscal year, the Committee reviews and recommends to the Board (or the independent members of the Board, in the case of the Chief Executive Officer) the base salaries of the Companys Chief Executive Officer and all executive officers. The Committee reviews, with the assistance of its outside consultant, national survey data available regarding salaries of those persons holding comparable positions at other companies included in the Standard & Poors 500 Index as well as those within a comparator group of public consumer goods companies. The Committee establishes the base salary of each of the executive officers based upon such survey data, an evaluation of the individual performance of the executive officer and, in the case of executive officers other than the Chief Executive Officer, the recommendations of the Chief Executive Officer. The base salaries paid in 2004 to each of the Named Officers are shown in the Salary column of the Summary Compensation Table. Mr. Galli was paid a base salary of $1,200,000 in 2004.