Liz Taylor's amfAR Legacy... Avon's Andrea Jung Gives Back...

Elizabeth Taylor was top of mind for many guests at a kick-off party to raise awareness for the upcoming amfAR Inspiration gala.

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GIVING BACK BIG-TIME: Avon Products chairman and chief executive Andrea Jung qualified for a bonus of nearly $5.4 million last year, but she won’t be seeing any of it. In recognition of the company’s less-than-stellar financial performance and in honor of its upcoming 125th anniversary, Jung will donate all of the after-tax proceeds of her “nonequity incentive plan compensation” to the Avon Foundation, where it will go toward representative scholarships, to combat domestic violence and breast cancer and to other charitable initiatives. According to a definitive proxy filed with the Securities and Exchange Commission on Friday, her total compensation for 2010, including the funds to be donated to the foundation and options awards that aren’t necessarily realized, came to $13.2 million, up 39.3 percent from 2009. Avon’s net income declined 3.1 percent, to $606.3 million, last year as revenue decreased 6.4 percent to $10.86 billion.

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