Not all base packages make CEOs automatic millionaires. Take the case of new Phoenix Companies CEO Dona D. Young. This morning the firm filed details of Young's three-year contract with the SEC (see here.

Young, currently chief operating officer of the firm takes over from current chairman and CEO Robert W. Fiondella in June. She will be paid a base salary of $900,000 for 2003. She will also be eligible for a long-term incentive bonus of up to 200 percent of her base salary if all performance goals are met. In addition, there is a base performance bonus of 100 percent of salary. That figure could also be adjusted based on performance.  

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