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Wed October 20, 2010
Lifespan CEO Compensation tops $9 million
By MEGAN HALL
PROVIDENCE, R.I. – The CEO of the Lifespan Hospital system earned more than $9 million in 2009, according to documents obtained by WRNI.
That's about triple his compensation in 2008.
Lifespan CEO George Vecchione's compensation package was a point of controversy in 2009 when a Providence Phoenix article uncovered that his $3 million salary and benefits were the most of any hospital system CEO in New England.
Now, Lifespan's tax forms list his most current compensation at more than $9.3 million.
Lifespan executives say 8 million of that money was a one time pay out of his accrued retirement fund and does not reflect his base salary.
In a written statement, the hospital system said "To clarify, a significant portion of Mr. Vecchione's compensation, associated with his retirement plan, had been reported annually between 1998 and 2008 when it was accrued. It is being reported again this year because his contract required him to take a payout at his 10-year mark with Lifespan."
Review the salary
Take a look at what Lifespan's key officers make here
Review the break down
Take a look at the break down of George Vecchione's pay here.
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