Saga Inks Ed Christian To Contract Extension
February 18, 2016 at 3:49 AM (PT)
SAGA COMMUNICATIONS, INC. has signed Chairman/Pres./CEO ED CHRISTIAN to a new five-year contract extension. In a Form 8-K filed with the SEC, the company indicated that CHRISTIAN signed the extension on FRIDAY (2/12), taking his deal to MARCH 31th, 2021.
CHRISTIAN will receive salary increases each year of at least 4% or the cost of living increase, whichever is higher, as determined by the Board of Directors' Compensation Committee. He also will see an increase in paid vacation time to six weeks per year as well as paid tax prep services, and severance pay of two years' pay, paid in monthly installments, plus any unvested or time-vested stock options he had previously earned.