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Her annual incentive bonus, which is based on the company's financial performance, was cut in half to $2.1 million. All other compensation came to $419,721 and covered costs for use of a company plan, car expenses and contributions to retirement plans. The Associated Press formula for executive compensation takes into account salary, bonuses, perks, above-market interest the company pays on deferred compensation and the estimated value of stock and stock options awarded during the year. The AP formula does not count changes in the present value of pension benefits, which makes the AP total slightly different in most cases from the total reported by companies to the SEC. The value that a company assigned to an executive's stock and option awards for 2012 was the present value of what the company expected the awards to be worth to the executive over time.
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