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March 14, 1995|Times Staff and Wire Reports

Gerstner Collects $12 Million for '94: IBM paid its chief executive $4.6 million in salary and bonuses last year and another $7.75 million to compensate for the sale of stock in his former company, RJR Nabisco Inc. The disclosure was made in IBM's annual proxy statement to shareholders. Louis V. Gerstner Jr. received a $2-million salary and $2.6 million in bonuses from the world's largest computer company. Most of the remaining compensation came from a guarantee given Gerstner when he was hired by IBM from RJR Nabisco in April, 1993, that he would receive $8.125 a share for his RJR stock when he sold it. He sold his 3.2 million shares of RJR last year for less than that, and IBM made up the difference of $7.75 million.

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