To be fair, that's a salary of 1 million. The remainder is
bonuses and stock options. Cordani, 45, received compensation valued at $15.1 million last year from the Philadelphia managed-care company, according to an Associated Press analysis of a regulatory filing Friday.
That included a $1 million salary, a performance-related bonus totaling more than $7.3 million and stock and option awards adding up to $6.7 million.
Cordani's pay package also included $48,733 for the installation and operation of a security system, which was installed at the executive's home once he became CEO. Cordani, Cigna's former president and chief operating officer, was appointed CEO Dec. 25, 2009. He started his tenure Jan. 4, 2010, following the retirement of H. Edward Hanway.
Cordani's 2009 compensation package was valued at $6.5 million.
He saw healthy increases in several compensation categories compared to 2009, including the performance-related bonus, which climbed 49 percent. The 2010 total included a $5.1 million payment for the three-year period that ended last December and a payout of about $2.3 million for 2010.
There's nothing wrong with that. I'm sure it's less than those damn communist union teachers and firefighters compensation packages.
