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Lowe's CEO Receives $12M Pay Package in 2010
NEW YORK (AP) -- The CEO of the No. 2 home-improvement chain Lowe's Cos. received a pay package valued at $12 million in 2010, up 3 percent from the prior year, according to an analysis by The Associated Press.

Niblock, 48, received a base salary of $1.1 million and a performance-based bonus of $2.2 million, according to a filing with the Securities and Exchange Commission on Monday.

The bulk of his award came from stock and option grants valued at $8.5 million on the date they were granted.

Niblock, who joined Lowe's in 1993 and became chairman and CEO in 2005, received other compensation worth $195,052, including retirement contributions and $44,873 for personal use of corporate aircraft.

The AP's calculation counts salary, bonuses, perks, stock and options awarded to the executive during the year.

(Copyright 2011 by The Associated Press. All Rights Reserved.)
04 11 11 by Newsroom
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