Document:

EX-10(E)

 

EXHIBIT 10(e)

SUMMARY OF BASE SALARY AND ANNUAL INCENTIVE

COMPENSATION PAYABLE TO NAMED EXECUTIVE OFFICERS

     2006 Base Salary. On February 22, 2006, the Compensation and Management Development Committee
(the “Compensation Committee”) of the Board of Directors of The Sherwin-Williams Company
(“Sherwin-Williams”) set the 2006 base salaries of the executive officers named in the Summary
Compensation Table of Sherwin-Williams’ 2006 Proxy Statement, effective upon each officer’s 2006
annual review date. The base salaries of the named executive officers for 2006 are as follows:
C.M. Connor, Chairman, President and Chief Executive Officer ($1,116,648); S.P. Hennessy, Senior
Vice President – Finance and Chief Financial Officer ($475,748); J.G. Morikis, President, Paint
Stores Group ($448,526); L.E. Stellato, Vice President, General Counsel and Secretary ($384,514);
and Conway G. Ivy, Senior Vice President — Corporate Planning and Development ($352,404).

     Annual Incentive Compensation to Be Earned in 2005. The Compensation Committee also approved
the following minimum, target and maximum cash bonus award levels, as a percent of salary, for the
named executive officers for 2006 under The Sherwin-Williams Company Management Incentive Plan
based upon each such executive officer achieving 75%, 100% and 125%, respectively, of their
individual performance goals. The Management Incentive Plan is part of The Sherwin-Williams
Company Management Compensation Program.

	 	 	 	 	 	 	 
	 	 	Incentive Award as a Percentage of Base Salary
	Named Executive Officer	 	Minimum	 	Target	 	Maximum
	C.M. Connor
	 	40	 	95	 	165
	S.P. Hennessy
	 	40	 	75	 	135
	J.G. Morikis
	 	40	 	75	 	135
	L.E. Stellato
	 	30	 	60	 	95
	C.G. Ivy
	 	30	 	60	 	95

     The Compensation Committee also approved a threshold company earnings goal and individual
performance goals for the named executive officers under the Management Incentive Plan for 2006.
Individual performance goals for Messrs. Connor and Hennessy relate to consolidated net sales,
diluted earnings per share, after tax return on shareholders’ equity, free cash flow, working
capital as a percent of sales and earnings before interest, taxes, depreciation and amortization.
Mr. Morikis has individual performance goals related to sales, profit, return on sales, return on
net assets employed, and new store openings. Mr. Stellato’s individual performance goals relate to
consolidated net sales, diluted earnings per share, budget achievement and various legal matters.
Mr. Ivy’s individual performance goals relate to consolidated net sales, diluted earnings per
share, business development transition matters and acquisition analysis and planning.EX-10(G)

 

EXHIBIT 10(g)

Schedule of Certain Executive Officers who are Parties

to the Severance Pay Agreements in the Forms Attached

as Exhibit 10(b) to the Company’s Quarterly Report on Form 10-Q

For the Period Ended June 30, 1997

Form A of Severance Pay Agreement

Christopher M. Connor

Form B of Severance Pay Agreement

John L. Ault

Sean P. Hennessy

Thomas E. Hopkins

Conway G. Ivy

Timothy A. Knight

John G. Morikis

Thomas W. Seitz

Louis E. Stellato

Robert J. WellsEX-10(BB)

 

EXHIBIT 10(bb)

Schedule of Certain Executive Officers who are Parties

to the Individual Grantor Trust Participation Agreements in the Form Attached

as Exhibit 10(a) to the Company’s Quarterly Report on Form 10-Q

For the Period Ended September 30, 2003

Christopher M. Connor

John L. Ault

Sean P. Hennessy

Thomas E. Hopkins

Timothy A. Knight

John G. Morikis

Thomas W. Seitz

Louis E. Stellato

Robert J. WellsEX-10.5

 

Exhibit 10.5

Schedule to Exhibit 10.4

Severance Agreements substantially identical to Morgan K. O’Brien’s were entered into with the
following executive officers on the following dates:

	 	 	 	 	 	 	 
	Name	 	Current Title	 	Date	 	 
	Joseph G. Belechak

	 	Senior VP and Chief Operations Officer
	 	12/23/03
	 	 
	 
	 	 	 	 	 	 
	Maureen L. Hogel

	 	Senior VP and Chief Legal & Admin. Officer
	 	12/10/03	 	 
	 
	 	 	 	 	 	 
	Mark E. Kaplan

	 	Senior VP and Chief Financial Officer
	 	9/22/05	 	 
	 
	 	 	 	 	 	 
	Stevan R. Schott

	 	VP, Finance (previously Sr. VP and Chief

       Financial Officer)
	 	12/23/03	 	 
	 
	 	 	 	 	 	 
	James E. Wilson

	 	VP, Corporate Development (previously
Sr. VP

       and Chief Strategic Officer)
	 	12/18/03EX-10.11

 

Exhibit 10.11

Schedule to Exhibit 10.9

Non-Competition and Confidentiality Agreements which were substantially identical to that filed as
Exhibit 10.9 were entered into among either Duquesne Light Holdings, Inc. or Duquesne Light Company
and each of the following parties, materially differing as set forth below:

	 	 	 	 	 
	Party and Date Executed	 	Material Differences	 	 
	Mark E. Kaplan, August 30, 2005

	 	Restriction on competition covers area
within a 150-mile radius of Pittsburgh,
PA.
	 	 
	 
	 	 	 	 
	 

	 	Restriction on competition covers
telecommunications in addition to
electricity.	 	 
	 
	 	 	 	 
	Stevan R. Schott, August 9, 1999

	 	Consideration includes severance of one
week per each year of service, minimum of
6 months and maximum of 12 months.	 	 
	 
	 	 	 	 
	 

	 	Restriction on competition covers the
states of Pennsylvania, Ohio, West
Virginia, Maryland, New York, New Jersey
and Virginia.	 	 
	 
	 	 	 	 
	 

	 	Restriction on competition covers gas in
addition to electricity.	 	 
	 
	 	 	 	 
	James E. Wilson, August 17, 2000

	 	Consideration includes severance of 52
weeks of base salary and health and
welfare benefits. Pension benefits are
to accrue during severance period (as
permitted by law).EX-10.19

 

Exhibit 10.19

Duquesne Light Holdings, Inc.

Description of Executive Benefits

Executive officers of Duquesne Holdings, Inc. and Duquesne Light Company (together, the “Company”)
are eligible to receive the following compensation-related benefits:

     Annual Cash Incentive. Executive officers are eligible to receive incentives based on the
accomplishment of performance objectives. Performance criteria focus on the achievement of
agreed-upon and documented strategic goals. Performance targets may include, among other things,
measures of financial performance, the ability to meet budget levels, individual or group
performance objectives, and other corporate performance measures. The amount of incentive payment
can vary above and below the target based upon the results achieved. When targets are met, the
incentive amount may be as much as 100% of the target. When targets are exceeded or are not
reached, the incentive amount may be proportionately more or less than the target (between 50% and
150% of target). The Compensation Committee may make appropriate upward or downward adjustments
if, after taking into consideration all of the facts and circumstances of the performance period,
it determines that adjustments are warranted.

     Currently, the Chief Executive Officer is eligible for an annual incentive payment of 65%
of his base salary; the other top four-paid executive officers are eligible for annual
incentive payments of 40% of their base salaries.

     Enhanced
Death Benefit. As part of every nonunion employee’s benefit package, the
Company provides a basic life insurance plan. If the employee dies from any cause, the plan pays a
cash benefit of one and one-half times the employee’s base pay at the time of death, rounded up to
the next higher $1,000. An independent insurance carrier currently provides this benefit.

     Certain key employees (including executive officers) are provided with an additional cash
benefit of one times their base salary. This enhanced benefit is self-insured by the Company
(there is no policy with an independent insurance carrier). No premiums are paid for this
benefit.

     Long Term Disability Insurance. As part of every nonunion employee’s benefit package,
the Company provides long-term disability insurance if the employee becomes totally disabled due to
illness or injury. Normally, an individual is treated as “totally” disabled if he or she cannot
perform any occupation by reason of education, training or experience. However, for certain key
employees (including the executive officers) the term “totally” disabled is defined as “the
inability to perform the material duties of his or her regular occupation for the entire period of
the disability.” In addition, executives are eligible for a supplemental long-term disability
policy, which increases the base monthly benefit from 60% of salary to 75% of income, up to a
maximum monthly benefit of $25,000. In order to calculate the benefit, the plan factors in the
base salary, plus an average of the last two year’s incentive pay, less Group Long-Term Disability
coverage.

     Enhanced Business Travel Accident Insurance. As part of every nonunion employee’s benefit
package, the Company provides a business travel accident insurance protection value of $300,000 if
the employee should die or suffer a serious injury while traveling on business (including while
commuting directly between the employee’s residence and a place of regular employment). An
independent insurance carrier currently provides this benefit.

     Certain key employees (including executive officers) are provided with an additional $100,000
of coverage. This enhanced coverage has no material effect on the group premium paid by the
Company.

     Investment Counseling. Executive officers are eligible to receive financial and tax planning
services from an investment counselor. The Company pays the counselor’s fees on
behalf of the participating executive officers. Because the payment for such services is
considered taxable to the participants, the Company grosses their income up to cover related income
taxes.

     Car Allowance; Parking. Executive officers receive an annual car allowance. The Company pays
parking fees for certain key employees (including executive officers).

     Club Fees. The Company pays club initiation fees and a portion of the monthly membership dues
for certain executive officers.

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