DGX » Topics » Base Salary

This excerpt taken from the DGX DEF 14A filed Apr 22, 2009.

Base Salary

We pay base salary to our executives to provide them a steady source of income for their exclusive services to the Company. The Committee annually reviews and approves base salaries for the named executive officers. Consistent with our executive compensation philosophy, base salaries are set at levels competitive with the peer group. The Committee determined whether base salary adjustments were warranted following an assessment of our 2007 results and each named executive officer’s position, performance, scope of responsibility, current salary level and market comparables. After considering these factors, effective January 1, 2008, the Committee established each named executive officer’s base salary as follows:

 

 

 

 

 

 

 

Percentage Increase

 

2008 Base Salary ($)

Dr. Surya N. Mohapatra

     

4.5

%

       

1,143,868

 

Robert A. Hagemann

 

 

 

4.5

%

 

 

 

 

517,713

 

Michael E. Prevoznik

     

4.5

%

       

448,607

 

Dr. Joan E. Miller

 

 

 

3.5

%

 

 

 

 

439,875

 

Wayne R. Simmons

     

3.5

%

       

403,649

 

The total base salary paid to each named executive officer in 2008 is reported in the “2008 Summary Compensation Table” on page 25.

This excerpt taken from the DGX DEF 14A filed Apr 10, 2008.

Base Salary

The Committee annually reviews and approves base salaries for the named executive officers. Consistent with our executive compensation philosophy, base salaries are set at levels competitive with the peer group. The Committee determined whether base salary adjustments were warranted following an assessment of our 2006 results and each named executive officer’s position, performance, scope of responsibility, current salary level and market comparables. After considering these factors, effective January 1, 2007, the Committee established each named executive officer’s base salary as follows:

17


 

 

 

 

 

 

 

 

 

2006 Base Salary

 

Percentage Increase

 

2007 Base Salary

Dr. Surya N. Mohapatra

 

 

$

 

1,023,000

   

 

 

7.0

%

 

 

 

$

 

1,094,610

 

Robert A. Hagemann

 

 

$

 

463,008

   

 

 

7.0

%

 

 

 

$

 

495,419

 

Michael E. Prevoznik

 

 

$

 

401,205

   

 

 

7.0

%

 

 

 

$

 

429,289

 

Robert E. Peters

 

 

$

 

355,425

   

 

 

3.5

%

 

 

 

$

 

367,865

 

Dr. Joan E. Miller

 

 

$

 

340,491

   

 

 

6.0

%

 

 

 

$

 

360,920

 

Dr. Miller became an executive officer in 2007. In connection with her promotion to Senior Vice President, Hospital and Anatomic Pathology Services, she received a salary increase of 17.8%, to a new annual rate of $425,000, reflecting her expanded responsibilities.

The total base salary paid to each named executive officer in 2007 is reported in the 2007 Summary Compensation Table on page 24.

This excerpt taken from the DGX DEF 14A filed Apr 2, 2007.

Base Salary

Base salaries for the named executive officers are reviewed and approved annually by the Compensation Committee. Consistent with market practice, base salaries are set at levels competitive with the Compensation Peer Group. The Compensation Committee determines base salary adjustments, which may be higher or lower than the comparative data, following an assessment of the overall results of the Company as well as each named executive officer’s position, performance, scope of responsibility, and current salary level. Effective January 1, 2006, each named executive officer received adjustments to his base salary according to the philosophy described above, ranging from 4.0% to 6.0%. In the event of a promotion or a new hire, the Compensation Committee will review and take action at its next meeting.

The total base salary paid to each named executive officer in 2006 is reported on the Summary Compensation Table on page 30.

This excerpt taken from the DGX DEF 14A filed Mar 30, 2006.

Base Salary

       The Committee annually reviews and determines the base salaries of the Chief Executive Officer and the other executive officers, with its determination with respect to the Chief Executive Officer being subject to ratification by the entire Board. Quest Diagnostics targets salaries for most executive officers to approximate median levels in the compensation peer group. Base salary adjustments are determined following an assessment of each executive officer's position, performance, potential, and current salary level in relation to market data for similar positions with comparable scope of responsibilities.

31


This excerpt taken from the DGX 8-K filed Mar 20, 2006.

          Base Salary

           On February 15, 2006, the Compensation Committee approved the following annual base salaries for fiscal year 2006 for the Company’s chief executive officer and other executive officers (effective January 1, 2006):

 

 

 

 

 

Name and Position

 

Base Salary for
2006

 


 


 

 

 

 

 

 

Surya N. Mohapatra
Chairman, President and Chief Executive Officer

 

$

1,023,000

 

Robert A. Hagemann
Senior Vice President and Chief Financial Officer

 

 

463,008

 

David M. Zewe
Senior Vice President, Diagnostic Testing Operations

 

 

481,416

 

Michael E. Prevoznik
Senior Vice President and General Counsel

 

 

401,205

 

Robert E. Peters
Vice President, Sales and Marketing

 

 

355,425

 

W. Thomas Grant, II
Senior Vice President, Insurance and Employer Services

 

 

365,000

 

This excerpt taken from the DGX DEF 14A filed Mar 31, 2005.

Base Salary

       The Committee annually reviews and determines the base salaries of the Chief Executive Officer and executive officers, with its determination with respect to the Chief Executive Officer being subject to

33


approval by the entire Board. Quest Diagnostics sets salaries for most executive officers to approximate median levels in the compensation peer group. Base salary adjustments are determined following an assessment of each executive officer's position, performance, potential, and current salary level in relation to market data for similar positions with comparable scope of responsibilities.

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