HOFFMAN ESTATES, Ill., March 17 (UPI) -- U.S. retail giant Sears Holding Corp. said it paid its top executive, Lou D'Ambrosio, $9.9 million in 2011.
That was D'Ambrosio's total pay package, the company said in a filing with the Securities and Exchange Commission.
Crain's Chicago Business reported Saturday D'Ambrosio received $793,000 for "personal use of chartered aircraft," which covered, essentially, his commute from the Philadelphia, where he lives, to Chicago.
The company's headquarters are in Hoffman Estates, near Chicago.
D'Ambrosio received $30,000 for housing near the company's headquarters and $3,600 for "commuting costs in Sears-provided vehicles," Crain's reported.
In addition, he was given $18,000 to cover taxes that his travel expenses could incur, given the travel expenses would be considered part of his compensation.
All that came on top of a $930,769 base salary, $8 million in stock awards and a bonus of $150,000, the filing said.
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