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Business Briefing / Compensation

Avery chief is paid $6.4 million

March 14, 2009|TIMES WIRE REPORTS

Dean A. Scarborough, chief executive of Avery Dennison Corp. of Pasadena, received compensation last year valued at $6.4 million, according to an Associated Press calculation of figures disclosed in a regulatory filing. However, much of it came in stock options that currently have little value.

Scarborough received a salary of $945,000, compared with the previous year's $916,000.

Scarborough received stock awards and options valued at about $4 million at the time they were granted. Avery Dennison shares are now trading at less than half the level of the options' strike price of $52.12.

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