9 gigantic bonuses that make yours look like chump change

Seven-figure cash bonuses sweeten tech CEOs' pay packages

By , Network World |  IT Management, slideshow

Who: Verizon CEO Ivan Seidenberg 

Bonus amount: $3.9 million

Total 2010 compensation: $18.2 million

Company performance: Verizon's revenue and income fell 1% and 12%, respectively, in its 2010 fiscal year ended Dec. 31. Verizon reported operating revenues of $106.5 billion, down from $107.8 billion in 2009. Net income came in at $10.2 billion, down from $11.6 billion a year earlier.

Justification for bonus: Ivan Seidenberg picked up a $3.9 million cash bonus for 2010 after netting $3 million a year earlier. He earned 100% of his target award, which was based on the following performance measures: adjusted earnings per share, revenue, free cash flow and diversity. In explaining its performance metrics, Verizon noted that the diversity target is measured "by the percentage of new hires and promotions at and above the manager level consisting of minority and female candidates and the levels of supplier spending at the corporate level to minority- and female-owned or operated firms."

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