Correction: Feb. 25 Fifth Third Bancorp executive pay story

A corrected version of the story appears below:

NEW YORK (AP) -The president and chief executive of Fifth Third Bancorp, a Cincinnati-based bank, received compensation worth about $10 million in 2007, according to a proxy filing on Monday.

Kevin T. Kabat, 51, who became chief executive in April, received a base salary of $866,534 and a performance-based bonus of $3 million, according to a filing with the Securities and Exchange Commission.

He also received other compensation worth $140,400, including $28,682 for country club dues, $10,000 for trust and estate planning fees, $65,372 in contributions to his defined-contribution plans, and $5,000 in tax reimbursements.

The bulk of his award came in the form of stock and option awards the company valued at about $6 million.

Kabat was named president in June 2006 and was executive vice president before that.

Chairman George Schaefer Jr., 62, who ceded the chief executive title in April and remains chairman, received $5.8 million in 2007, versus about $4 million the year before.

In 2007 he received a base salary of $990,018 and a performance-based bonus of $1.1 million.

He received other compensation of $265,619, including $100,000 in trust and estate planning fees, $16,368 for country club and other dues, and $61,501 in contributions to his defined-contribution plan.