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Oracle CEO's base pay cut to $1

August 22, 2009|Times Wire Reports

Oracle Corp. lowered Chief Executive Larry Ellison's base salary for fiscal 2010 to $1 from $1 million in each of the previous three years.

Including stock options and other bonuses, Ellison's compensation in the year ended May 31 totaled $56.8 million by Securities and Exchange Commission rules. That was a 17% increase over the $48.4 million he received in fiscal 2008, according to a regulatory filing.

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