BT boss is handed pay package worth almost £10million after company's share price soars Ian Livingston's earnings have jumped from £7.7m to £9.1m in a year Bonus was lower but he earned more as BT shares are performing so well If he stays for three more years, he will get shares currently worth £2m The boss of BT received a pay package worth almost £10million last year after the company's share price soared. Ian Livingston saw his bundle of pay and perks rise 23 per cent compared to the previous year, after a host of lucrative reward schemes paid out. The telecoms boss has been at the company for 16 years, and has been chief executive since 2008. Mr Livingston, 48, last year received basic pay of £925,000 as well as a cash bonus of £1.2million. Pay rise: Ian Livingston, chief executive of BT, has seen his overall pay packet jump up 23 per cent in a year His package also included payments worth £270,000 in lieu of pension contributions, as well as £21,000 in other benefits such as a company car and a complimentary BT landline. Even though his £2.4million basic pay was less than the £2.5million he received last year, the majority of his package is made up in company shares - which have risen some 54per cent in value over the past 12 months. These are set out in the company's annual report, which was released yesterday. He received shares worth almost £1million from an incentive scheme designed to encourage managers to stay with the business. These shares were given to him in 2009 but were only released during the year. Dividends from similar share pots given to him in 2010, 2011 and last year were re-invested on his behalf, and are worth £282,000. He was also given 665,000 shares, worth £2.1million, that he will be able to collect free of charge if he is still employed by BT in 2015. Strong performance: Livingston, who has been at the company for 16 years, was rewarded by BT's share prices doubling in market value over the past year Under another scheme Mr Livingston received 1.9million shares, which are worth £6million at yesterday's share price. This was a scheme that only paid out because the group hit performance targets. The 1,000 most senior BT managers are in the reward plan, and shared a total pot of shares worth £38million. More dividends worth £280,000 were reinvested on Mr Livingston's behalf from the scheme. The group stressed that the only reason his package had risen in value was because of the rise in the company's share price over the year. Dividends: Despite having his pay frozen at his own request, Mr Livingston has still made more money than ever through his shares His salary has also been frozen for the coming year - the third time in five years his basic pay has not increased at Mr Livingston's request. A company spokesman said: "BT has performed strongly over the past three years and this is reflected in the share price which has more than doubled during this time. The turnaround at BT will see more than a thousand BT employees receive large numbers of shares after helping to transform the company. He added: "BT's remuneration policy is based on reward for success. The company has more than one million shareholders and they have benefited from healthy dividends, as well as a share price which has more than doubled over three years. The company last year saw its annual profits hit £2.5billion. The group is planning to take on key rival BSkyB with its own Sports channel, which will show Premiership football games. The company has bought the rights to show 38 games during the football season, and will make the service available to its broadband internet customers for free in a direct blow to Sky's prominence in the pay-TV market.