Proxy


Compensation Committee Interlocks and Insider Participation During fiscal 2012, decisions with respect to the compensation of the Company’s executive officers were


made by, or upon the recommendation of, the Compensation Committee. During fiscal 2012, the Compensation Committee consisted of independent directors, as defined by the New York Stock Exchange rules. No member of the Compensation Committee was an officer of the Company nor was any officer of the Company a member of the Compensation Committee (or similar body) for any employer of the Company’s Compensation Committee members.


D. Remuneration SUMMARY COMPENSATION TABLE FOR FISCAL Years 2012, 2011, and 2010


Change in


Pension Value and


Non-Equity Stock Name and Principal Position


Douglas A. Starrett President, Chief Executive Officer and Director


Francis J. O’Brien Treasurer and Chief Financial Officer


AnthonyM. Aspin Vice President of Sales


Stephen F. Walsh Senior Vice President Operations and Director


Fiscal Year


2012 2011 2010


2012 2011 2010


2012 2011 2010


2012 2011 2010


Salary ($)


375,000 325,000 292,500


200,000 175,000 116,667


175,000 150,000 128,700


250,000 215,000 193,500


Bonus ($)


N/A N/A N/A


N/A N/A N/A


N/A N/A N/A


N/A N/A N/A


Awards ($)


N/A N/A N/A


N/A N/A N/A


N/A N/A N/A


N/A N/A N/A


Option Awards ($)


N/A N/A N/A


N/A N/A N/A


N/A N/A N/A


N/A N/A N/A


Incentive Plan Compensation


($)1


99,375 55,250 N/A


83,000 29,750 N/A


72,100 57,000 N/A


66,250 36,550 N/A


Nonqualified Deferred


Compensation ($)2


504,419 106,312 277,845


40,228 13,684 0


149,930 39,323 69,635


100,024 48,821 73,084


All Other


Compensation ($)


N/A N/A N/A


N/A N/A N/A


N/A N/A N/A


N/A N/A N/A


1 Represents amounts paid in accordance with the Cash Bonus Plan and to Mr. Aspin under his cash bonus plan. See “Compensation


Discussion and Analysis – Cash Incentive Compensation.” 2 Amounts reflect the change in actuarial present value of accumulated benefit obligations. The following tables are not included because they are not currently part of our compensation for our


executives:  Grants of Plan-Based Awards


 Outstanding Equity Awards at Fiscal Year-End  Option Exercises and Stock Vested During Last Fiscal Year


E. Pension Benefits The Company’s Retirement Plan covers all eligible employees who have at least one year of service and have


attained age 21. An “eligible employee” is an employee of the Company (or an affiliate of the Company that participates in the Plan) other than a union employee, leased employee, independent contractor, or, except as determined by the Company, a nonresident alien. Benefits under the Retirement Plan are determined by reducing a formula amount calculated under the Retirement Plan by 90% of the annuity value of the employee’s vested account balance, if any, under The L.S. Starrett Company Employee Stock Ownership Plan (the “ESOP”). See “Employee


16 A13


Total ($)


978,794 486,562 570,345


323,228 218,434 116,667


397,030 246,323 198,335


416,274 300,371 266,584


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