By Ben King, 24 May 2002 16:45
NEWS LoudCloud CEO Benjamin Horowitz has trousered a 19 per cent pay rise despite taking his company's shares to nearly a quarter of their flotation price. The chief of the internet services company backed by Netscape pioneer Marc Andreesen will receive a $250,000 basic salary - up 19 per cent. He also received a $50,000 bonus, up from nothing the year before. He also accrued one million new options, which could net him $5.9m if the company's share price rises 10 per cent over the lifetime of the options, the Reuters news service reported.
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