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This excerpt taken from the SMG DEF 14A filed Dec 19, 2008. Base
Salary (short-term compensation element)
Consistent with the Company’s performance-based pay
philosophy, base salary is not intended to deliver the majority
of the total compensation to any of the NEOs or other key
management employees. However, base salary, which is the primary
fixed element of total compensation, serves as the foundation of
the total compensation structure since most of the variable
compensation elements are linked directly or indirectly to the
base salary level.
Base salaries of the NEOs are typically reviewed on an annual
basis and benchmarked against the median salaries of similar
positions within a relevant compensation peer group. Individual
base salaries may be higher or lower than the benchmark
depending on a number of organizational and individual qualities
and characteristics, including the strategic importance of the
individual’s job function to the Company, an NEO’s
experience, competency, skill level, overall contribution to the
success of our business and potential to make significant
contributions to the Company in the future.
Base salary changes, if any, take effect in October, as well as
on a facts and circumstances basis at the time of a promotion or
other material change in an individual’s overall
responsibilities.
This excerpt taken from the SMG DEF 14A filed Dec 20, 2007. Base
Salary (short-term compensation element)
Consistent with the Company’s performance-based pay
philosophy, base salary is not intended to deliver the majority
of the total compensation to any of the NEOs or other key
management employees. However, the base salary, which is the
primary fixed element of total pay, serves as the foundation of
the total compensation structure since most of the variable
compensation elements are linked directly or indirectly to the
base salary level.
Salaries of the NEOs are typically reviewed on an annual basis
and benchmarked by position to the median of our compensation
peer group. Individual base salaries may be higher or lower than
the benchmark to reflect an executive’s experience,
competency, skill level and overall contribution to the success
of our business. The base salaries of the Company’s NEOs
and other key management employees are determined considering:
Base salary changes, if any, take effect in October, as well as
on a facts and circumstances basis at the time of a promotion or
other material change in an executive’s overall
responsibilities.
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