Terex Restores Pay for CEO; Directors Get $25K Raise

December 1, 2010

Construction equipment manufacturer Terex Corp. (TEX) said Tuesday it will revoke a 10% pay cut for Chairman and Chief Executive Ron DeFeo beginning in January.

In a regulatory filing, the company revealed that its directors will receive a $25,000 raise to $175,000 a year starting next year. It's the first increase in compensation for Terex directors since 2007. The board's compensation committee also approved higher retainer fees for directors who serve as lead director, committee chairmen and committee members.

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