COVENTRY HEALTH CARE, INC.
("COVENTRY")
Summary of Named Executive
Officers’ Compensation
Base Salary
The following table sets forth the
current annual base salaries provided to Coventry’s Chief
Executive Officer, Chief Financial Officer, and three other most
highly compensated executive officers (“Named Executive
Officers”).
|
Executive Officer
|
Current Salary
|
|
Allen F. Wise, Chief Executive
Officer
|
*
|
|
Shawn M. Guertin, Executive Vice President,
Chief Financial Officer, and Treasurer
|
$570,000
|
|
Francis S. Soistman, Jr., Executive Vice
President, Government & Individual Plans
|
$600,000
|
|
Thomas C. Zielinski, Executive Vice President
and General Counsel
|
$475,000
|
|
James E. McGarry, Senior Vice
President
|
$415,000
|
* Allen F. Wise, our Chairman of the
Board, became our Chief Executive Officer effective January 30,
2009. Mr. Wise’s compensation for 2009 for his services as
both a director and executive is currently under
discussion.
Executive Management Incentive
Plan
2008 Criteria and Incentives
Coventry’s Chief Executive
Officer, Chief Financial Officer, and three other most highly
compensated officers were eligible in 2008 to receive a non-equity
incentive award under Coventry’s 2008 Executive Management
Incentive Plan (the “2008 EMIP”) which was previously
filed as Exhibit 10.1 to Coventry’s Current Report on
Form 8-K filed on December 18, 2007.
For fiscal year 2008, incentives
under the 2008 EMIP were based on the attainment of budgeted EPS
(earnings per share) and EPS growth. There were no payouts under
the 2008 EMIP because the performance criteria for 2008 were not
fully achieved.
2009 Criteria and
Incentives
Coventry is in the process of
establishing its EMIP for 2009, as well as other components of its
2009 compensation pr
