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This excerpt taken from the SHW DEF 14A filed Mar 10, 2006. Salary.
Mr. Connor’s base salary range was determined using
the median base salary of chairmen and chief executive officers
for manufacturing and retail companies having comparable sales
as Sherwin-Williams. The Committee determined
Mr. Connor’s salary within the range based primarily
upon the Committee’s evaluation of his performance for the
prior year relating to the following financial performance
measures: consolidated net sales, diluted earnings per share,
after tax return on shareholders’ equity, after tax return
on sales, free cash flow, and working capital as a percent of
sales.
This excerpt taken from the SHW DEF 14A filed Mar 10, 2005. Salary.
Mr. Connor’s base salary range was determined using
the median base salary of chairmen and chief executive officers
for manufacturing and retail companies having comparable sales
as Sherwin-Williams based upon the surveys mentioned above. For
2004, the average merit salary increase given generally to
Sherwin-Williams’ salaried employees was 3%, and the range
of potential merit increases was 0% to 7.5%. In February 2004,
Mr. Connor received a base salary increase of 3.5%,
bringing his base salary to $1,032,408. Mr. Connor’s
increase was based primarily upon the Committee’s
evaluation of his 2003 performance relating to the financial and
other performance measures set forth in the next paragraph.
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