RitzBitz

The Associated Press reports the 2007 compensation of Eastman Kodak Co. CEO  Antonio Perez was valued at $11.17 million, the year the Rochester, N.Y., imaging company completed its transition from film to digital imaging, according to a regulatory filing last Wednesday. Perez’s pay package was roughly 50 percent higher than in 2006.
  Perez received a base salary of nearly $1.1 million, $3.32 million in performance incentives, plus perks worth $377,865, most of which was use of company aircraft. He also received stock and options valued at $6.34 million, according to the company’s proxy filing with the U.S. Securities and Exchange Commission. Of that, roughly $3 million were options currently underwater, meaning Kodak shares would have to rise significantly before Perez could profit from them.

  Perez, 62 years old, who is also the company’s chairman, received $7.33 million in compensation in 2006, according to the AP article. Although his salary was unchanged from 2006, his perks rose 40 percent from 2006 in part due to extra costs from his use of company aircraft.