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JPMorgan directors raise Dimon's pay after prior cut
January 24, 2014 / 5:07 PM / 4 years ago

JPMorgan directors raise Dimon's pay after prior cut

NEW YORK, Jan 24 (Reuters) - Jamie Dimon, chairman and CEO of JPMorgan Chase & Co, will be paid $20 million for his work in 2013, restoring most of the $11.5 million cut directors imposed a year earlier following the company’s embarrassing derivatives loss.

The sum includes a base salary of $1.5 million, plus $18.5 million of restricted stock, the company said in a public filing on Friday.

Dimon was paid $11.5 million for 2012, half of his $23 million compensation in each of the prior two years, according to company filings.

The raise, decided by the board of directors, comes after JPMorgan annual profits fell 16 percent in 2013 as the company agreed to pay out some $20 billion to settle legal claims from government agencies and private investors.

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