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Mon, 10 Dec 2012 15:45:00 GMT | By Michael Brush, MSN Money
10 outrageously lavish CEO perks

Lockheed Martin's Robert Stevens



Lockheed Martin CEO Robert Stevens. (© Kevin Lamarque/Newscom/RTR)
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Lockheed Martin's Robert Stevens

Perk: $1.66 million for home and personal security

Lockheed Martin (LMT) CEO Robert Stevens got more than $1.6 million worth of home and personal security services from shareholders last year, which put him at the top of the list for this perk. "That's 10 times what someone pays for a house in middle America. It's kind of mind-boggling," says Bloxham.

Other goodies took his total perks up to $2.1 million, the third-highest in this category.

Lockheed Martin says it offers security to "any employee who is the subject of a credible and specific threat on account of his or her employment," and it will foot the bill for whatever the company's chief security officer orders. But besides rich perks, Stevens also gets rich pay, between $22 million and $25.4 million in each of the past three years. That's almost three times the average at large companies.

Shareholder activists think part of the reason for all this is that Stevens' role as board chair may put a damper on the board's oversight of pay and other corporate governance matters. Lockheed Martin responds that the dual CEO-board chair role is needed to present a "unified and informed front to our U.S. government customers," and "a more cohesive corporate culture, which strengthens our ability to stay ahead of the challenges faced by our industry." And the company says pay is set by a board pay committee made up of independent directors.

* Bing: What's the average CEO pay?

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