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Ralph Lauren receives 15m bonus

By FashionUnited

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Last week Polo Ralph Lauren Corp stated its Chief Executive Ralph Lauren received a $15 million bonus for the 2006 fiscal year ended March 31. This was a 13 percent increase from his $13.26 million bonus in the previous fiscal year and Lauren was also granted restricted stock valued at $4.31 million, compared with a grant worth $3.31 million for the previous year. His salary remained unchanged at $1 million. The New York-based clothing company previously stated it set Lauren's 2007 fiscal year bonus target at $11 million, with a maximum possible bonus of $16.5 million if he exceeds performance goals under the company's incentive plan. Shares of Polo Ralph Lauren more than doubled in fiscal 2006. The shares ended Friday on the New York Stock Exchange at $52.38, down 53 cents, or 1 percent on the day.

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