Word: bonus
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Dates: during 1990-1999
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...professors who retire between ages 63 and 65 receive a bonus equal to twice their annual salaries at retirement. The bonus diminishes as the age of retirement increases...
...soundly asleep--mints an instant $1 million for each of those CEOs. That's pay for showing up, not pay for performance. A growing number of CEOs get so-called megagrants, which are grants of stock options valued at more than three times the CEO's annual salary and bonus. Such grants are an increasingly large and irksome cost shared by all stockholders. The value of existing shares is diluted when new shares are created to hand over to the boss...
...options either at the date they are granted or project their future worth.) On the other hand, by the time he fully cashes out these options--a mere year's worth--they could be worth more than half a billion dollars. And that is in addition to salary, bonus and free rides at Space Mountain. Counting the options, his 1996 compensation comes to $204 million. While Disney stockholders have done well under Eisner's long reign, Eisner himself has done even better. "Shareholders are starting to wonder whether it is just too much," says David Leach, executive vice president...
Another lavishly rewarded CEO last year was Lawrence Coss of little known Green Tree Financial, a company based in St. Paul, Minnesota, that finances mobile-home purchases. He was paid $102 million in salary and bonus. He was also given 2 million stock options valued at $35 million, presumably as an incentive. In his case too, shareholders have had much to cheer. They enjoyed a 47% return on their investment last year. But the huge numbers have people edgy. Could Green Tree not recruit a first-rate executive for, say, $50 million? "How much is too much?" asks Patrick McGurn...
...case of Amelio, $16 million of his package was in stock options. That will prove vastly overstated if he can't fix what ails Apple, and if he does fix it, he's probably worth every penny. Archibald is an unusual case in that his compensation is all salary, bonus, long-term incentive pay and a special dispensation of $2.8 million to help pay his taxes; no options grants. Maybe he knew the stock was going nowhere...