UPS (UPS) CEO Lands $9.5 Million Paycheck, Up 73 Percent Over Year Before

United Parcel Service Inc. (NYSE:UPS) Chief Executive Officer Scott Davis received a total compensation package valued at $9.5 million in 2010, a huge 73 percent jump over what he received in 2009.

Davis received a base salary of $1 million in 2010, the same as the year before, according to a filing Monday with the Securities and Exchange Commission. The majority his compensation, though, was in the form of stock. Davis' stock was valued at about $7.8 million at the end of 2010, over twice the $3.9 million his shares were worth at the end of 2009.

He was also granted option awards valued at $437,514 in 2010, nearly the same as 2009. His performance-based cash bonus rose 78 percent to $232,000 from $130,523 in 2009.

UPS said in the filing that "the increase in Davis' total compensation reflects a long-running and deliberate effort" to boost the compensation of its top three executives at the company, assuming earnings performance measures are met.

UPS closed Monday at $73.19, down $0.90, or 1.21 percent.