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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 76.04

-1.3%

Jan 2 9:30 AM EST

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To: Lizzie Tudor who wrote (65474)	5/14/2004 12:03:11 AM
From: Kirk ©	of 77400

All smoke and mirrors; see below: Study: CEO Pay Rose 27% in 2003 By Reuters \| 13 May 2004 Stock awards helped drive the average corporate chieftain’s annual compensation to $4.6 million, exceeding last year’s figure by $1 million. The median compensation for chief executives at the largest U.S. companies rose to $4.6 million last year, up from a median $3.6 million in 2002, according to the latest pay survey by the Corporate Library. The 27% climb in overall pay -- base salary, bonus, options proceeds, restricted stock awards and long-term incentive plans -- exceeds the 11.5% rise in 2002 over 2001. “I am surprised at the strength of the growth in the annual compensation,” said Paul Hodgson, author of the 2003 CEO pay report. Driving the gains were restricted stock awards. The 2003 median value for these awards was nearly $2 million, up from $1.46 million in 2002. Last year, 116 CEOs received restricted stock awards, up from 99 in 2002.

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