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Stephen Hemsley who turns 73 in June, will get a base salary of $1 million a year—big money but actually below the usual salary for CEOs of such large companies. More important, he would get a one-time $60 million grant of stock options, with a twist: He would get the payoff only if he remains CEO for three years. He would get no other stock-based awards in that period.

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Work Reform

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