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Pay package for Boeing CEO put at $13.8 million

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From the Associated Press

Boeing Co. Chief Executive Jim McNerney received compensation valued at $13.8 million in 2006, a year in which the company enjoyed record commercial airplane sales and a strong military contracting business.

McNerney was paid a salary of $1.75 million in his first full year at the Chicago-based aerospace company, Boeing said.

His compensation also included $4 million in annual cash incentive pay, stock options that were valued at $6 million when they were issued, $1.6 million in personal benefits and $331,449 for personal use of company aircraft.

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