EXHIBIT 10.1
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SUMMARY OF THE SALARIES, INCENTIVE COMPENSATION AND EQUITY INCENTIVE GRANTS
AND AWARDS FOR THE NAMED EXECUTIVE OFFICERS OF
REINSURANCE GROUP OF AMERICA, INCORPORATED
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Shares Awarded MIP Award for
for 2007
Name and Title of 2007 Base MIP Payout 2004-2007 (% of Base 2007 Stock 2007 PCRS
Executive Director Salary(1)(2) for 2006 PCRS Grant Salary)(3) Option Grant Grant (4)
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A. Greig Woodring $800,000 $947,590 28,980 0-200% 31,058 9,721
President and Chief
Executive Officer
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David B. Atkinson $440,000 $454,843 12,300 0-160% 9,265 2,900
Executive Vice President
and Chief Operating
Officer
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Jack B. Lay $420,000 $427,769 10,260 0-160% 11,119 3,480
Senior Executive Vice
President and CFO
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Paul A. Schuster $420,000 $411,780 10,260 0-160% 11,119 3,480
Senior Executive Vice
President,
U.S. Operations
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Graham Watson $480,000 $493,380 14,000 0-160% 11,119 7,000
Senior Executive Vice
President, International
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<FN>
(1) Under the RGA Reinsurance Company Executive Deferred Savings Plan (the
"Plan"), executive officers of the Company participating in the Plan
may defer up to 50% of his or her annual base salary and up to 100% of
any incentive compensation awarded to such participant under an
incentive compensation plan maintained by the Company. The amount of
compensation to be deferred by each participant will be determined in
accordance with the Plan based on elections made by the participant.
The amount of compensation deferred under the Plan will be paid by one
to fifteen installments upon the participant's retirement,
termination, death, disability or other dates determined in accordance
with the Plan. Mr. Watson, as a non-U.S. citizen, is not eligible to
participate in the Plan.
(2) In February or March of each year, the Compensation Committee meets to
determine whether, based on market data, the performance of each
executive officer and the performance of the Company during the
preceding fiscal year, base salaries for the named executive officers
should be increased.
Additionally, base salaries for the named executive officers will
generally increase concurrent with an officer's promotion or an
increase in an officer's responsibilities, as may be determined by the
Compensation Committee from time to time.
(3) Results for Reinsurance Group of America, Incorporated (the "Company")
under the Reinsurance Group of America, Incorporated Management
Incentive Plan, as amended and restated effective January 1, 2003 (the
"MIP"), are measured primarily on annual operating earnings (net
income from continuing operations less realized capital gains and
losses and certain other non-operating items) per share and,
secondarily, on annual consolidated revenues. The MIP award for
certain participants may be measured in part or in whole on divisional
results, which will be based on the division's revenues and operating
earnings.
(4) Represents the target number of shares of performance contingent
restricted stock of the Company issuable under the 2007 award, subject
to the terms and conditions thereof.