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Gerry Schwartz’s $116-million pay cut Add to ...

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What gives at Onex Corp.?

The private equity manager could always be counted on for a juicy headline about the compensation of founder and chief executive officer Gerry Schwartz, who has topped the pay charts in Canada in recent years.

In 2013, for example, Mr. Schwartz made $85.3-million (U.S.) in direct compensation, thanks largely to a $60-million grant of stock options. But that was only the beginning. He also earned $41-million more from co-investing in Onex-managed funds and another $3-million in dividend payments, for a total of $129-million in 2013. And filings showed he also reaped a further $258-million (Canadian) in 2013 from exercising stock options that had been granted in prior years.

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