EX-10.6 2 sfdq1fy12ex106.htm EXHIBIT 10.6
Exhibit 10.6
Certain Compensation for Named Executive Officers
for Fiscal 2012

Name | Principal Position | Annual Base Salary | Annual Cash Incentive (1)
C. Larry Pope | President and Chief Executive Officer | $ | 1,100,000 |  | (2)
Robert W. Manly, IV | Executive Vice President and Chief Financial Officer | $ | 700,000 |  | (3)
George H. Richter | President and Chief Operating Officer, Pork Group | $ | 800,000 |  | (4)
Joseph B. Sebring | President of John Morrell | $ | 700,000 |  | (5)
Jerry H. Godwin | President of Murphy-Brown | $ | 750,000 |  | (6)

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(1) | For the annual cash incentive awards, “pre-tax profits” are generally defined as net income before deduction for income taxes and incentive payments to key employees.

(2) | The annual cash incentive formula for Mr. Pope is equal to 1% of Company pre-tax profits subject to a cap of $8 million.

(3) | The annual cash incentive formula for Mr. Manly is equal to 0.50% of Company pre-tax profits subject to a cap of $3 million.

(4) | The annual cash incentive formula for Mr. Richter is equal to 0.50% of Pork Group pre-tax profits subject to a cap of $4 million.

(5) | The annual cash incentive formula for Mr. Sebring is equal to 0.25% of Pork Group pre-tax profits subject to a cap of $2.8 million.

(6) | The annual cash incentive formula for Mr. Godwin is equal to:

▪ | 0% of the first $50 million of Murphy-Brown pre-tax profits,

▪ | 0.5% of Murphy-Brown pre-tax profits in excess of $50 million and less than $100 million, and

▪ | 1.0% of Murphy Brown pre-tax profits in excess of $100 million.