This excerpt taken from the SPH DEF 14A filed May 26, 2009.
Base salaries for the named executive officers and, indeed, all of our other executive officers, are reviewed and approved annually by the Committee. In order to determine the fiscal 2008 base salaries, the Committee compared each executive officers fiscal 2007 base salary with the corresponding mean salary provided in the Mercer database. The Committee determined base salary adjustments, which may be higher or lower than the comparative data, following an assessment of our overall results as well as each executive officers position, performance and scope of responsibility, while at the same time considering each executive officers previous total cash compensation opportunities. At the beginning of fiscal 2008, each named executive officer received adjustments to his base salary in accordance with the philosophy and process described above, ranging from 0% to 25%. In the event of a promotion (such as Mr. Boyds in fiscal 2007) or a new hire, the Committee reviews and takes action at its next meeting.
The fiscal 2008 adjustments to each named executive officers base salary were as follows:
The total base salary paid to each named executive officer in fiscal 2008 is reported in the column titled Salary ($) in the Summary Compensation Table below.