Eaton Corporation (ETN) chief executive Alexander Cutler received compensation of around $14.7 million in 2007 - a 21% increase year-over-year. The executive's base salary rose $45,000 to just under $1.1 million last year, but he also added $9.5 million in performance-based cash bonuses plus stock awards and options valued at $3.9 million when they were granted in February of last year. He also received perks totalling $224,778, including $18,000 in car allowance; estate planning, financial counseling and tax preparation worth $18,900; $76,778 worth of personal use of company aircraft (with an associated tax grossup worth $10,332; and company purchased life insurance worth $12,003. And finally he also made $3,238 in above-market rturns on his non-qualified deferred compensation. Not a bad package for a company whose stock has fallen from $100 a share in October to just $80 these days...