Aon CEO Receives $10.3M in 2007

Gregory C. Case received a $1.5 million salary and a performance-based cash award of $2.4 million. The CEO also received stock and option awards that the company valued at $6.3 million on the days they were granted.

Aon said it considered the company's performance and earnings growth in a challenging market when it awarded Case's bonus. Aon said it also factored Case's work on company initiatives to restructure and sell some businesses in determining his total bonus.

The Chicago based company began a restructuring plan last year to battle fierce competition and falling rates. Aon targeted $240 million a year in savings by 2010. The plan included 2,700 job cuts.

Aon also announced plans to sell its insurance underwriting businesses to focus mostly on brokering, or charging fees for linking clients with underwriters.

Case's other compensation totaled about $32,000.

Apart from his 2007 pay package, Case realized $482,000 on vesting stock awards.

The AP's total pay calculations include executives' salary, bonus, incentives, perks, above-market returns on deferred compensation and the estimated value of stock options and awards granted during the year. The calculations don't include changes in the present value of pension benefits, and they sometimes differ from the totals companies list in the summary compensation table of proxy statements filed with the Securities and Exchange Commission.

In 2007, Aon's profit jumped 20 percent to $864 million, or $2.69 per share.

Aon shares gained 35 percent during the year to close at $47.69 on Dec. 31.