Abercrombie & Fitch’s CEO compensation package down 38%

New York City -- The chairman and CEO of Abercrombie & Fitch Co. received a pay package worth $22.5 million, down 38% from last year, mostly because of a reduction in option awards, according to an analysis by The Associated Press.

Jeffries, 66, received a base salary of $1.5 million and a performance-based bonus of $2.3 million, according to a filing with the Securities and Exchange Commission.

He received option awards worth $14.1 million on the date they were granted, down 58% from the prior year.

He also received other compensation worth $4.6 million, including a previously disclosed $4 million payment for eliminating unlimited personal use of the company aircraft. If Jeffries terminates his contract without good reason, he'll have to repay part of the $4 million.

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