Biopharmaceutical giant AstraZeneca has revealed its new chief executive Pascal Soriot will receive a base salary of £1.1 million a year after jumping ship from rival Roche.
Soriot was awarded the impressive pay packet along with £4m as compensation for the loss of his long-term incentives from his previous employer.
He will also be entitled to £1.1m as an annual bonus, plus long term incentive awards worth 250% of base salary, worth £2.75m.
Soriot won't receive the full £4m for eight years, and getting the full payout will depend on whether the company hits performance metrics - he is likely to receive £2m within three years however, according to the Wall Street Journal.
AstraZeneca is the world's fifth-largest pharmaceutical company, behind Pfizer, Novartis, Sanofi and GlaxoSmithKline, and has operations in more than 100 countries.
Soriot's predecessor, David Brennan, left in a hurry earlier this year following shareholder anger after he was paid over £9m in 2011 at a time when the company's net profit was down 44%.
Brennan was one of a number of FTSE CEOs who lost their jobs earlier this year in what was called the "shareholder spring"; an uprising by investors against what they perceived to be excessive pay and perks for company bosses at a time of poor revenue and profit performances.