Myron Ullman III, CEO and Chairman of J.C. Penney, received a total compensation package worth $12.3 million dollars in 2010, a 48% increase from last year, according to the Associated Press.
Bloomberg Businessweek reports that while Ullman’s base salary of $1.5 million remained unchanged from 2009, his other benefits far outweighed those of last year. Besides a $2.56 million dollar cash bonus, he also accumulated more than $8 million dollars worth of stock awards and options.
Other company perks totaling $237,937 included personal use of the corporate aircraft, and $5,500 for a home security system. In 2009, Mr. Ullman received total compensation valued at $8.8 million.