Occidental Petroleum Corporation (NYSE:OXY) revealed in a regulatory filing that its Chairman and CEO, Ray Irani, netted more than $400 million in compensation last year in what is one of the largest single-year payouts in U.S. history. The majority of the payout came from $270 million in options dated 1997 to 2006 that were exercised this year. The executive also received $93 million in stock and dividends from a deferred stock program. Meanwhile, his salary in 2006 was $1.3 million with a cash bonus of $1.4 million and stock option awards amounting to $55 million.

But was the compensation worth it? Well, since the CEO came into office back in December of 1990, the company's stock rose from a mere $9 to share to its current levels of around $50 - a solid 700% gain! While only a few executives have made this much money, clearly this is compensation that is well deserved.