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Medco Health got compensation worth $13.3M in 2009

Associated Press

Posted on March 12, 2010 at 12:00 PM

NEW YORK (AP) — Pharmacy benefits manager Medco Health Solutions Inc. reports that even though its CEO took a 7 percent pay cut in 2009, he still received $13.3 million in total compensation.

Medco says it paid David Snow $1.3 million in salary and a $3 million performance-based cash bonus. Both those totals were similar to 2008. But the Franklin Lakes, N.J., company awarded Snow $9 million in stock and options compared to $10 million a year earlier.

The value of Snow's other compensation also declined. That compensation includes financial planning, a car allowance, a matching contribution to his 401(k) savings plan, and life insurance premiums.

Snow, 55, has been Medco's CEO since March 2003, and the chairman of its board since June 2003.

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