TORONTO (CP) — Telus Corp. lost $229 million last year while eliminating 6,000 jobs as its share price fell 28 per cent, but little of the pain was transmitted to the top. Darren Entwistle, president and chief executive officer of the Vancouver-based phone company, received compensation of $3.14 million, up from $1.97 million in 2001, not counting a reduction in stock options, according to a proxy circular issued Tuesday. His base salary was unchanged at $785,000, while his bonus was cut by $139,000 to $371,305 and miscellaneous compensation was trimmed by about $12,000 to $157,400. However, Entwistle, 40, was given restricted share units valued at $1.82 million, up from $510,250 in 2001. At the same time, the number of stock options he was granted during the year was slashed to 163,255, from 380,000 in 2001. While share options are notoriously difficult to value accurately, Telus executive vice-president for corporate affairs Jim Peters said the reduction in options more than offset the gain in restricted shares, leaving Entwistle with an overall pay cut. The restricted share units, which vest over three years, were in part issued ‘‘in lieu of a full grant of share options,’’ the proxy circular said. Telus had a difficult 2002. Its stock fell as low as $5.76 in the summer as Moody’s Investors Service cut the company’s debt to junk status, and in July Telus said it was cutting 5,000 union jobs and 1,000 management positions from its 30,000-member workforce. Last month, Canada’s second-biggest phone company sued the Telecommunications Workers Union, alleging its leaders conspired to damage the company and undermine Entwistle. At the end of 2002, Telus had $8.2 billion in long-term debt. Interest costs were $711 million in 2002, about 10 per cent of sales. The debt stems mainly from the $6.6-billion purchase of mobile phone company Clearnet Communications Inc. in 2000. Telus shares (TSX:T) closed up 30 cents at $17.40 Tuesday on the Toronto Stock Exchange. Manitoba Telecom Services Inc. (TSX:MBT) also issued its proxy circular Tuesday, revealing that the company has given its top executives rich parachutes in case the Winnipeg phone company is taken over. Bill Fraser, Manitoba Tel president and CEO, will receive three times his annual compensation if the company is bought. Fraser’s compensation rose 11 per cent last year to $843,000. Four other officers at Manitoba Tel would get double their annual compensation in the event of a takeover.