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AOL's million dollar man sees 40% dip in compensation

CEO Tim Armstrong feels pain of diminishing revenue

Internet Security Threat Report 2014

AOL nearly halved its chief executive officer's compensation for the year ended 31 December 2010.

Tim Armstrong was handed $15.3m in salary, stock awards and options last year, compared with a hefty $25.5m reward in 2009, according to a regulatory filing with the US Securities and Exchange Commission published yesterday.

His total compensation reflected a 26 per cent decline in AOL revenue coupled with a net loss of $782.5m for the company's 2010 fiscal year.

Armstrong's options and stock were down on 2009's awards, however his salary was bumped up from $734,849 to $1m in 2010.

Last month the ailing internet outfit fired 900 of its employees as part of the company's effort to recast itself as a media content provider.

In February Armstrong confirmed the $315m buyout of the Huffington Post. Late last year, AOL hoovered up TechCrunch. ®

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