Eli Lilly CEO Lechleiter Sees 2010 Pay Fall 22 Pct

INDIANAPOLIS (AP) - Drugmaker Eli Lilly says Chairman and CEO John Lechleiter received compensation valued at about $12.7 million in 2010, a 22 percent drop from the prior year.

The maker of the antipsychotic Zyprexa gave Lechleiter a base salary of $1.5 million, according to a Securities and Exchange Commission filing. He also received a performance-based cash bonus of $3 million, which dropped 16 percent from 2009. His equity awards totaled about $8.2 million. Those were down more than $3 million mainly because the Indianapolis company gave two awards in 2009 as it switched to a two-year payout period

The AP's formula for calculating executive compensation includes salary, bonus, performance-related bonuses, perks, above-market returns on deferred compensation and the estimated value of stock options and awards granted during the year.