NEW YORK (Reuters) - Bermuda-based Lazard Ltd. said that chairman and chief executive Bruce Wasserstein was awarded about $22.8 million in compensation in 2007, up 54 percent from a year earlier, as the company reported record annual profits.

His compensation included a salary of $4.8 million, restricted shares valued at $18 million related to Lazard's 2006 performance, and $1,618 in other compensation, according to a proxy statement filed with the US Securities and Exchange Commission.

Most of the difference from Wasserstein's year-earlier compensation was tied to an increase in the restricted stock award from $10 million. The salary was unchanged.

Compensation is based on salary, bonus, the value of stock options and other awards granted during the year, as well as incentives and perks.

The company reported Wasserstein's compensation for his performance in 2007 as $41 million, which includes restricted shares issued in 2008.