American Eagle Outfitters CEO Takes Pay Cut in 2007

Philadelphia The CEO of American Eagle Outfitters Inc. received a 7.6% cut in compensation for 2007 as the company's stock slumped, but he still hauled in $14.4 million, according to the Associated Press.

The company slashed James V. O'Donnell's bonus in half, but offset the decrease with a 32% jump in salary and a 4% bump in stock and option awards, according to a Friday filing with the Securities and Exchange Commission.

O'Donnell received a salary of $1.35 million, a bonus of $1.78 million and other compensation of $41,308, which includes $15,250 to offset car expenses and $5,222 in club membership fees.

He also received stock and option awards valued at $11.2 million on the date they were granted.