Company: CL
Filing Date: 2025-03-26
Form Type: DEF 14A
Source: 0001308179-25-000223
Chunk: 26

Company: COLGATE PALMOLIVE CO
Filing Date: 2025-03-26
Form: DEF 14A
Chunk 26
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olive Company Employees’ Retirement Income Plan (the “Retirement Plan”), receive pension benefits determined under the PRA formula as described in “Retirement Plans.” Ms. Daniels and Mr. Sutula are not participants in the Retirement Plan and instead participate only in our defined contribution plans. Our severance program is designed to provide participants with reasonable compensation if their employment is terminated in the event of a change in control or at the Company’s convenience (i.e., involuntary termination without cause). The potential payments and benefits under these various programs did not influence the decisions discussed in the balance of this CD&A regarding the setting of salary, annual incentives and long-term incentives for the Named Officers since these programs serve very different purposes. Base Salary Base salaries for the Named Officers and all other employees are based on established salary ranges for each grade level. The CEO’s salary is set independently by the P&O Committee, without the involvement of the CEO. The P&O Committee reviews salaries for the other Named Officers based on recommendations from the Global Human Resources function and the CEO in accordance with the established salary ranges and the guidelines described below. Since base salaries are designed to provide a reasonable, competitive level of fixed compensation, the mid-point of each salary range is based on the median pay level for similar jobs at companies in the Comparison Group. Salaries above the median are available for key contributors to our success. Setting salaries in the median range or above mitigates pressure that might otherwise exist to support short-term focused or higher-risk business strategies if fixed compensation were set materially below market rates. Decisions regarding where in the range a particular individual’s salary should be and whether their salary should be increased during the year are based on the following factors:

| ● | Our                              
 annual salary budget guidelines; |

| ● | Company                                      
 or business unit performance, as applicable; |

| ● | Assumption               
 of new responsibilities; |

| ● | Data                           
 from the Comparison Group; and |

| ● | Individual                              
 performance, elements of which include: |

| ● | the                                                                                             
 individual’s ability to translate our key priorities into specific strategies applicable        
 to their function, to communicate those strategies clearly and effectively and, working         
 with their team, to deliver results against those strategies to help us achieve our performance 
 objectives and strategic initiatives; and                                                       |

| ● | other                                                                                     
 performance measures, such as the successful launch of innovative new products, increases 
 in market share of Colgate products, geographic expansion and increases in productivity.  |

The Named Officers are experienced executives and key