Sirius XM EVP/Gen. Counsel Donnelly Inks New Deal
January 18, 2010 at 4:37 AM (PT)
SIRIUS XM RADIO EVP/General Counsel and Secretary PATRICK L. DONNELLY has inked a new contract to remain at the company for four more years.
DONNELLY's new contract, according to the company's SEC filing, will pay him an initial base salary of $575,000, with specified increases. DONNELLY also received an option to purchase 13,163,495 shares of SIRIUS XM common stock at an exercise price of $0.6669 per share, vesting in four equal installments on JANUARY 14th of the next four years, as part of the signing agreement.