Merck & Co. (NYSE: MRK) chief executive Richard T. Clark received compensation valued at $14.5 million in 2007. The 80 percent raise shocked many investors in a year when the drugmaker took a $4.85 billion charge to settle lawsuits stemming from its former painkiller Vioxx. In fact, shares in the company recently hit a new 52-week low amid continuing concerns about lawsuits while executive compensation only seems to be rising.

Most of Clark's compensation came in the form of stock options that were worth $8.23 million while he also received $4.31 million as part of an incentive plan. In addition to his base salary on top of that, he also received $51,024 for a home security system, $18,686 in unspecified commuting costs, $10,125 in company matches to his retirement plan and $1,128 for unspecified aircraft use. At least shareholders can be comforted by the fact that he didn't run up as high of a personal jet cost as his peers!

In all fairness, Clark did take the reins after Merck was forced to withdraw its Vioxx painkiller from the market and faced tens of thousands of lawsuits. However, few can still justify rising executive compensation given the stock's steep declines in recent months. Luckily, the AFL-CIO - which holds 1,300 shares - agrees and is now calling for a shareholder advisory vote on compensation. We'll see how far that makes it on April 22nd...