Ikon Office Solutions Inc. gave its Chairman and CEO Matthew J. Espe a $1.39 million bonus in fiscal 2003, According to a filing Thursday with the Securities and Exchange Commission. Espe, who became chief executive in August 2002, received a $725,000 base salary, bringing his total compensation to $2.12 million, the filing said. The bonus comprised an $850,000 signing bonus paid to Espe on Jan.15, 2003, and $543,750 that he received under “a guaranteed annual incentive bonus” provision in his employment agreement.
The filing also said that Dennis P. LeStrange, who was Ikon’s senior vice president until he left the company Oct. 1, received total compensation of $625,280. That includes a $212,280 bonus. Some of LeStrange’s total compensation consisted of severance payments, the filing said