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EXHIBIT 10(v)
Summary of Compensation Arrangements for
Named Executive Officers and Directors
Compensation Arrangements for Named Executive
Officers
Following is a description of the compensation arrangements that
have been approved by the Compensation & Benefits
Committee of the Board of Directors of Johnson & Johnson
(the “Compensation Committee”) on February 9, 2009
for the Company’s Chief Executive Officer, Chief Financial
Officer and the other three most highly compensated executive
officers in 2008 (the “Named Executive
Officers”).
Annual Base Salary:
The Compensation Committee has approved the following base
salaries, effective February 23, 2009, for the Named Executive
Officers:
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$
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1,802,500
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Chairman/CEO
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$
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727,600
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Vice President, Finance; CFO
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—*
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Vice Chairman, Worldwide Chairman, Pharmaceuticals Group
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$
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835,600
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Vice President, General Counsel
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$
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800,100
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Worldwide Chairman, Consumer Group
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*
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Will retire in March 2009
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While the Compensation Committee had recommended a merit increase
in Mr. Weldon’s base salary for 2009 based on his strong
performance in 2008, Mr. Weldon recommended to the
Compensation Committee that his salary for 2009 stay the same as it
was for 2008, in recognition of the current global economic
environment. The Compensation Committee accepted
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