Ankling AOL Time Warner chief Gerald Levin got a $1 million salary last year and no cash bonus, compared with a $1 million salary and a $10 million bonus in 2000, according to conglom’s proxy filing Wednesday.
Levin, who will be replaced by promoted chief operating officer Richard Parsons in May, also gets stock options as part of his compensation package but didn’t exercise any of those options last year.
AOL TW chairman Steve Case also numbered among six top execs at the conglom getting matching $1 million salaries in 2001. Case also exercised stock options giving him $127.3 million in additional compensation.
Earlier this year, AOL said it had awarded 4 million options to Case and Levin in lieu of cash bonuses for ’01 and ’02, but conglom’s slumping shares would have to more than double in value for them to see any value.
Levin reaped $152.6 million by exercising stock options in 2000.