Hugh Panero, President and CEO of XM Satellite Radio, got a bonus award totaling $575,850 for 2004, compared with $412,000 for 2003. He also received a salary totaling $476,854 in 2004, compared with $412,000 in 2003. (They seemed to have liked that number on 2003)

Interestingly enough, Panero's employment agreement, effective as of August 2004, dictates a base salary of $550,000 for the first year of the agreement, with increases to $600,000 in the second year and $650,000 in the third year.

So, in essence, he's underpaid!

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