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NEW YORK (AP) -- The chief executive of consumer products company Clorox Co. received compensation valued by the company at about $12.4 million in fiscal 2007, according to a proxy statement filed Friday with the Securities and Exchange Commission. Donald R. Knauss, who took over as chief executive and chairman in October 2006, received a base salary of $712,500 in the fiscal year ended June 30. He also received a bonus of $1.6 million and $716,042 in other compensation, which included $682,522 in relocation costs and $33,520 in perks including an executive car program and financial planning services. To help with his relocation, the company paid Knauss' mortgage subsidy and closing costs, temporary housing expenses, commuting costs, the cost of using the company plane and legal fees related to the negotiation of his employment contract. The CEO was also awarded stock and stock options that had an estimated value of about $9.4 million when granted. Associated Press calculations of total pay include executives' salary, bonus, incentives, perks, above-market returns on deferred compensation, and the estimated value of stock options and awards granted during the year. The calculations don't include changes in the present value of pension benefits and may differ from totals supplied by companies. Before Knauss took over as CEO, Robert W. Matschullat served in the post on an interim basis. From March to October of 2006, Matschullat was paid a total of $666,875. That total included a base salary of $266,875 and a bonus of $400,000. After Knauss took over, Matschullat became a director at the Clorox. During fiscal 2007, sales grew 4 percent and profit climbed 13 percent. Shares of the company edged up about 2 percent during the year. Clorox shares fell 13 cents to $61.41 in Friday's trading.
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