Scott Greenstein Renews At Sirius XM
July 24, 2013 at 3:56 AM (PT)
SCOTT GREENSTEIN has inked a new deal to continue as Pres./Chief Content Officer at SIRIUS XM RADIO.
The deal, lasting through JULY 22, 2016, will pay GREENSTEIN, the former MIRAMAX and USA FILMS executive, a base salary of $1,250,000 (the same as his last contract) and an opportunity to earn a target annual bonus equal to 150% of the base salary.
The new contract is, according to SIRIUS XM's SEC filing, similar to his existing deal except that it no longer includes a "golden parachute" excise tax gross-up. It also includes is a severance obligation of a lump sum payout equaling GREENSTEIN's base salary plus his last bonus, in exchange for GREENSTEIN signing a release, and stock options valued at $6.5 million and restricted stock unit options of $1 million, vesting on JULY 22, 2016.