Bonus Watch '10: Bank of America Chief Exec - Dealbreaker

Bonus Watch '10: Bank of America Chief Exec

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Second year CEO comp down 70 percent.

Bank of America Corp Chief Executive Brian Moynihan received $1.94 million in total compensation in 2010, according to the bank's proxy filed with U.S. securities regulators on Wednesday. In his first full year as CEO of the largest U.S. bank by assets, Moynihan's compensation declined more than 70 percent from the $6.51 million he received in 2009. Moynihan received a $950,000 base salary, but received no cash bonus, stock or option awards, or non-equity incentive plan compensation.

[Reuters]

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After a year of layoffs, topless hecklers, people who won't stop yelling at him, jokes that sting, and continuing to "reap the benefits of what Countrywide sowed," things are looking up for Brian Moynihan. Bank of America Corp., the second- biggest U.S. lender, more than quadrupled Chief Executive Officer Brian T. Moynihan’s 2011 compensation to $8.09 million. Salary was unchanged at $950,000 while his stock awards surged to $6.1 million from zero the previous year, the Charlotte, North Carolina-based lender said today in a regulatory filing. The figures conform to U.S. Securities and Exchange Commission guidelines. [Bloomberg]