SXE » Topics » Base salary.

These excerpts taken from the SXE 10-K filed May 21, 2009.
Base Salary” shall mean a Participant’s annual base salary, excluding incentive and discretionary bonuses, commissions, reimbursements and other non-regular remuneration, received from the Company prior to reduction for any salary deferrals under benefit plans sponsored by the Company, including but not limited to, plans established pursuant to Code Section 125 or qualified pursuant to Code Section 401(k).

 

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Base Salary” shall mean a
Participant’s annual base salary, excluding incentive and discretionary
bonuses, commissions, reimbursements and other non-regular remuneration,
received from the Company prior to reduction for any salary deferrals under
benefit plans sponsored by the Company, including but not limited to, plans
established pursuant to Code Section 125 or qualified pursuant to Code Section 401(k).


 



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This excerpt taken from the SXE DEF 14A filed Jun 29, 2007.
Base salary.   We provided our executive officers with a base salary to compensate them for services provided to us during the year, which represented the fixed element of direct compensation for fiscal 2007. The salaries of our executive officers are reviewed on an annual basis by the Committee, as well as at the time of a promotion or other change in responsibilities. Increases in salary are based on an evaluation of the individual’s performance and level of pay compared to the peer group pay levels for similar positions. The effective date of salary increases typically is May 1st of each year. Increases in salaries are based on both individual performance and our merit increase budget for the year. Salary increases can also occur upon promotion. Any salary increase for an elected corporate officer is approved by the Committee.

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We seek to fix executive officer base compensation at a level we believe enables us to hire and retain individuals in a competitive environment, and also to reward satisfactory individual performance and contribution to our overall business goals. In determining the fiscal 2007 base salaries for our executive officers and other executives, the Committee considered the survey data and analysis which indicated that base salaries for our executive officers were within a competitive range of companies in the peer group. Following its consideration of this data and other factors, the Committee decided that the fiscal 2007 base salaries for our executive officers would be generally unchanged or modestly increased from the prior fiscal year levels.

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