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TJX chief's pay deal is valued at $6.85m

TJX's chief executive, Carol Meyrowitz, received a base salary of $1.5 million, up more than 7 percent from the year prior. TJX's chief executive, Carol Meyrowitz, received a base salary of $1.5 million, up more than 7 percent from the year prior. (Robert E. Klein for The Boston Globe/ File 2007)
By Anne D'Innocenzio
Associated Press / April 28, 2009
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NEW YORK - TJX Cos.' chief executive and president, Carol Meyrowitz, received compensation valued at $6.85 million last year, up 15 percent compared with the previous year, according to an Associated Press calculation of figures disclosed by the discount retailer in documents filed yesterday.

Meyrowitz received a base salary of $1.5 million, up more than 7 percent from the $1.4 million salary she received the year before, according to the Securities and Exchange Commission filing. She also received a performance-based cash bonus of $2.26 million and perks totaling a little over $43,000.

The biggest chunk of Meyrowitz's compensation came in the form of restricted stock and options, valued at $3.05 million on the days they were granted. However, stock options valued at $1.07 million when they were granted in September 2008 are currently of little value since their exercise price of $35.03 is above the stock's closing price yesterday of $27.