##### 



Exhibit 10.1 SUMMARY OF COMPENSATION ARRANGEMENTS FOR
NAMED EXECUTIVE OFFICERS Following is a description of compensation arrangements that have been approved by the
Management Development and Compensation Committee (Committee) of the Companys Board of Directors
for the Chief Executive Officer and the other four most highly compensated executive officers in
2004 (the Named Executive Officers). Base Salary  The current annual base salaries of the Companys Named Executive
Officers are as follows: H. J. Riley, Jr.  Chairman and Chief Executive Officer
    
    $
    1,100,000K.S. Hachigian  President and Chief Operating Officer
    
    $
    800,000
    1T.A. Klebe  Senior Vice President and Chief Financial Officer
    
    $
    466,000D.K. Schumacher  Senior Vice President, General Counsel
and Chief Compliance Officer
    
    $
    430,000D.R. Sheil  Senior Vice President, Human Resources and Chief
Administrative Officer
    
    $
    388,500
   1
    
    Reflects the increase to Mr. Hachigians base salary as a result
of his promotion to Chief Executive Officer effective May 1, 2005. Annual Incentive Compensation On February 8, 2005, the Committee established performance goals and maximum bonus
opportunities for the Named Executive Officers and other executives for the fiscal year ending
December 31, 2005. The 2005 annual incentive compensation awards are made pursuant to the
Companys Management Annual Incentive Plan, as amended, which was filed as Exhibit 10.18 to
Coopers Form 10-K for the fiscal year ended December 31, 2003. The performance goals for 2005 are
based upon actual results as compared to budgeted performance on two financial measures: (1)
earning per share; and (2) free cash flow, with the award being determined by reference to a matrix
of different performance levels. Participants can receive a bonus based on a percentage of their
annual salary if the Company meets threshold, good, target or maximum attainments. In determining
the actual annual incentive award to be part to an executive, the Committee may also consider the
executives individual performance objectives and personal contributions.




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The following table sets forth the minimum and maximum annual incentive award payouts for each
of the Companys Named Executive Officers based on the achievement of the Companys performance
criteria for the year ending December 31, 2005. Minimum
    
    
    MaximumPayout
    
    
    PayoutH.J. Riley, Jr.
    
    
    0
    %
    
    
    200
    %K.S. Hachigian
    
    
    0
    %
    
    
    180
    %T.A. Klebe
    
    
    0
    %
    
    
    120
    %D.K. Schumacher
    
    
    0
    %
    
    
    100
    %D.R. Sheil
    
    
    0
    %
    
    
    100
    %
 Stock Options The Companys Amended and Restated Stock Incentive Plan provides for the granting of stock
options, restricted stock units and performance-based share awards to the Named Executive Officers
and other key executives. On February 8, 2005, the Committee approved the following nonqualified
stock option grants to the Named Executive Officers at an exercise price of $70.94, which was the
fair market value of the Companys stock on the grant date. H.J. Riley, Jr.
    
    0 sharesK.S. Hachigian
    
    47,500 sharesT.A. Klebe
    
    30,400 sharesD.K. Schumacher
    
    23,800 sharesD.R. Sheil
    
    21,400 shares
 In addition, in connection with Mr. Hachigians promotion to Chief Executive Officer and Mr.
Rileys continued service as Chairman of the Company, on April 25, 2005, the Committee approved the
following non-qualified stock option grants at an exercise price of $65.47, which was the fair
market value of the Companys stock on the grant date. H.J. Riley, Jr.
    
    150,000 sharesK.S. Hachigian
    
    52,500 shares




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All the stock option grants disclosed above vest in three equal annual installments and expire
seven years after the grant date, except the options granted to Mr. Riley will expire on December
1, 2010. Performance Shares On February 8, 2005 the Committee also set performance goals for performance  based share
awards for the Named Executive Officers and other key executives for a three-year performance
period beginning on January 1, 2005 and ending on December 31, 2007. The Committee set performance
goals tied to the cumulative compound growth in earnings per share during the performance period.
The Committee determined that compound earnings per share growth over the period of the at least 4%
was required before any award would be earned and at least 16% was required for a payout at the
maximum level. The awards, to the extent earned, will be distributed in Class A common shares of
Cooper, or at the executives election and upon approval by the Committee, up to 50% of the earned
award may be paid in cash. The following table presents information about the long term incentive
award granted in 2005 to the Named Executive Officers. Performance or
    
    
    Estimated FutureOther Period until
    
    
    Payouts UnderMaturation or
    
    
    Non-Stock Price-Payout
    
    
    Based PlansThreshold
    
    
    Target
    
    
    Maximum(shares)
    
    
    (shares)
    
    
    (shares)H.J. Riley, Jr.
    
    
    
    
    
    
    0
    
    
    
    0
    
    
    
    0K.S. Hachigian2
    
    February 2008
    
    
    20,000
    
    
    
    60,000
    
    
    
    80,000T.A. Klebe
    
    February 2008
    
    
    4,350
    
    
    
    13,040
    
    
    
    17,380D.K. Schumacher
    
    February 2008
    
    
    3,400
    
    
    
    10,200
    
    
    
    13,600D.R. Sheil
    
    February 2008
    
    
    3,060
    
    
    
    9,170
    
    
    
    12,220
   2
    
    Includes the following performance-based share awards granted to Mr.
Hachigian in recognition of his promotion to Chief Executive Officer effective My 1, 2005:
threshold 13,210 shares; target 39,640 shares; and maximum 52,860 shares.