WASHINGTON (AP) — Boston Scientific Corp. paid Chief Executive Ray Elliott 86 percent less in 2010 than the year before, when he was offered a hefty compensation package to join the Massachusetts–based device maker.
Elliott received a total compensation package worth $4.7 million last year, down from $33.4 million in 2009.
Many of the perks Elliott received in his first half–year leading the company were not part of his compensation in 2010, including a $1.5 million signing bonus and $14.2 million in stock awards.
The AP calculation aims to isolate the value that company boards place on CEOs’ total compensation packages. It includes salary, bonus, incentives, perks and the estimated value of stock options and awards.
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