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Goodyear will receive a base salary of US$1.25 million, as well as another US$600,000 in lieu of superannuation payments.
The remainder of the package is dependent on short and long term bonuses valued at US$1.9 million using BHPB's Black-Scholes method of accounting.
Significantly, the package does not include share options, which have recently attracted robust criticism shareholder groups.
Goodyear's immediate predecessor Brian Gilbertson, who stepped down earlier this year after a dispute with the board, left with $12.5 million and a $1.5 million lifetime pension after just six months in the top job.
Paul Anderson, who was one of the key orchestrators of BHP's merger with Gilbertson's Billiton, was on an annual salary of A$9 million and negotiated another $9.32 when he left.
"Mr Goodyear's remuneration is competitive and set at the level necessary to secure the services of a chief executive for the world's largest diversified resources company," BHPB chairman Don Argus said in a statement disclosing Goodyear's salary package. MiningNews.net
