Express Scripts Chief Executive George Paz got a $2.45 million bonus last year, the maximum possible under the company’s incentive plan, as part of $12.77 million in total compensation. The tally in Express Scripts’ proxy statement, filed last week, also includes a salary of $941,808, stock awards of $6.7 million and options valued at $2.46 million.

The stock and options values represent last year’s accounting cost for several years’ worth of awards. In February 2008, Paz received new stock-based awards valued at $10.2 million.

Express Scripts’ profit, before extraordinary items, jumped 32 percent last year. Shareholders were affected by the bear market, though, and watched the share price fall 25 percent.

Since we’ve mentioned perquisites in many other reports about executive pay, it’s worth sharing Express Scripts’ refreshing statement about the trappings of power:

All of the executives have offices that are no larger than those of the regular offices in our headquarters building and reserved parking is not provided for employees at any level. No financial counseling programs are provided and the Company does not permit personal use of corporate aircraft without express prior approval of the Committee, which approval has never been sought nor granted.

If Paz is terminated after a change in control, he’s entitled to severance of $4.47 million and total benefits of $18.66 million. Much of the sum would come from accelerated vesting of stock awards.