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The average annual compensation for non-executive directors at S&P 500 companies rose 2 percent to $304 856 last year, topping $300 000 for the first time and 43 percent higher than it was 10 years ago, according to a new report released by executive headhunters Spencer Stuart.

But thanks largely to stock grants some earned a lot more than that.

Directors at biotechnology company Regeneron Pharmaceuticals Inc received, on average, $1,2 million in compensation last year. That figure does not include the more than $6 million received by Regeneron’s independent chairman, company disclosures show. — Reuters.