Summary
This 8-K filing from Marsh & McLennan Companies, Inc. (MRSH) primarily reports a change to the CEO's compensation. Specifically, on March 17, 2010, the Compensation Committee approved an increase in the annual bonus target for CEO Brian Duperreault. The target was raised from 225% to 300% of his base salary. The actual bonus payout will be determined by the Committee in February 2011, and other compensation elements remain unaffected.
Key Highlights
- 1CEO Annual Bonus Target Increased: The annual bonus target for CEO Brian Duperreault was raised from 225% to 300% of his base salary.
- 2Effective Date of Change: The Compensation Committee approved this increase on March 17, 2010.
- 3Future Determination of Actual Bonus: The final bonus amount will be decided by the Compensation Committee in February 2011.
- 4No Other Compensation Changes: All other compensation arrangements, benefits, and incentive plan participation for the CEO remain unchanged.
- 5Focus on Executive Compensation: This filing specifically addresses a key aspect of executive compensation for the top executive.
Frequently Asked Questions
The primary purpose of this 8-K filing is to disclose a change in the annual bonus target for the Company's CEO, Brian Duperreault.
The Compensation Committee approved the increase on March 17, 2010. The actual bonus payout is subject to future determination in February 2011.
No, the filing explicitly states that the remainder of Mr. Duperreault's compensation arrangements, benefits, and participation in Company incentive plans remain unchanged.
The bonus target increased by 75 percentage points (from 225% to 300% of base salary), representing a substantial potential increase in variable compensation for the CEO, subject to performance.