WorldCom chief Ebbers gets 30 percent pay raise, total $11 million package

Wednesday, April 4th 2001, 12:00 am
By: News On 6

(CLINTON, Miss.) - WorldCom Inc. president and chief executive Bernie Ebbers received a total of $11 million in salary and bonuses last year, a 30 percent increase over 2000.

Ebbers' salary increased 7 percent, to $1 million from $935,000, according to WorldCom's annual report, released Friday.

His bonus hit the $10 million mark, a 33 percent jump from 1999's $7.5 million, however there were some strings attached. Ebbers must stay at Clinton-based WorldCom for two more years to receive the $10 million.

WorldCom Chief Financial Officer Scott Sullivan also received a conditional $10 million bonus and was paid a $700,000 salary. Chairman Bert C. Roberts was paid $1.05 million in salary, but received no bonus.

Ebbers also received 1.2 million stock options with a strike price of $44.50 per share. Sullivan received 600,000 options, while Roberts was granted 240,000 stock options, all with an exercise price of $44.50 per share.