AOL Time Warner Inc.


DULLES, VA. -Gerald Levin exercised stock options worth $152.6 million last year, when he helped engineer Time Warner Inc.'s $124 billion merger with America Online Inc. Levin, CEO of AOL Time Warner Inc., also received a salary and bonus package worth $11 million for the year and stock options worth $14 million, according to the company's proxy statement. Levin's compensation package dwarfed that of his boss, AOL Time Warner chairman Steve Case, who took home $1.8 million in salary and bonus for AOL's fiscal year 2000, which ended June 30. Case also received a salary of $383,333 for the six-month transition period between July 1 and Dec. 31, but passed an additional bonus of $426,000 on to other executives. But Case also exercised stock options that brought him about $71.2 million for the year and earned options for another $38 million in stock for the year.