Schwartz gets $7.7million in 2007 compensation

SUN CEO Jonathan Schwartz earned more than $7.7 million in 2006-2007 with nearly a third of the lolly made up of bonus cash.

Schwartz, who replaced Sun co-founder Scott McNealy as chief executive in April 2006, saw his base salary increase nine per cent to $980,769 when he took the top job.

Then he got $2.5 million for beating financial targets, including boosting revenue and operating profit margin. Most of this was done by firing a load of people who were earning a lot less money.

Also included in Schwartz's pay package was $246,569 paid by Sun for personal use of a company plane, which included two family trips, the installation of a home security system and a chauffeur to drive him to and from work.

According to Associated Press Schwartz gained $4 million in performance-based restricted stock, and had $9.8 million in restricted stock given to him during the year. µ