Former Amphenol CEO Got 2008 Pay Valued At $2.2M

BARBARA ORTUTAY

NEW YORK (AP) — The former chief executive of Amphenol Corp., which makes electronic and fiber optic connectors and cables, received compensation valued at $2.2 million in 2008, a 65 percent decline from a year earlier, according to an Associated Press analysis of figures disclosed in a regulatory filing.

Martin H. Loeffler stepped down from his CEO post on Jan. 1 and is now executive chairman. He was replaced by R. Adam Norwitt, who had already been serving as the company's president and chief operating officer.

According to a proxy statement the company filed with the Securities and Exchange Commission Monday, Loeffler received a base salary of $1.1 million last year, a 3 percent increase from 2007.

He also received $947,750 in incentive-based awards, down nearly 5 percent from a year earlier. Loeffler's other compensation, or perks, totaled $48,557, roughly the same as in 2007. This included $31,292 for a car and driver and $17,265 for group life insurance.

The company didn't grant any stock-based awards to Loeffler in 2008, while in 2007 he received stock options valued at $3.97 million on the date they were granted.