• Most Popular
  • Most Shared

Sirius XM CEO gets pay hike

LOS ANGELES
Wed Jul 1, 2009 7:53pm EDT
SIRIUS XM Radio CEO Mel Karmazin speaks at the Reuters Media Summit in New York, December 3, 2008. REUTERS/Mike Segar

LOS ANGELES (Reuters) - Sirius XM Satellite Radio Incon Wednesday said it extended the term of Chief Executive Mel Karmazin's employment contract, set to expire in November, through December 31, 2012, and raised his salary.

In a filing with the Securities and Exchange Commission, Sirius XM said it amended the employment agreement to increase his base salary from $1.25 million to $1.5 million, beginning on January 1, 2010.

It also provides Karmazin for the grant of an option to purchase 120 million shares at an exercise price of 43 cents a share.


More from Reuters

Photo

Democrats reach deal on health plan

WASHINGTON (Reuters) - Senate Democratic negotiators said they had reached agreement on Tuesday on a compromise on a scaled-back public insurance plan in a broad healthcare overhaul and would seek cost estimates on the deal.

» More Top News
Emmanuel Roy, a suspect in a mortgage-fraud scheme is escorted by FBI agents after being taken into custody in New York, October 15, 2009. REUTERS/Brendan McDermid

Sowing seeds of corruption

Corruption, whether it's crooked officials, financial fraudsters or philandering sports stars, is the country's No. 1 criminal threat, says the FBI.  Full Article 

Corporate Crime
Space shuttle Atlantis lifts off from launch pad 39A at the Kennedy Space Center in Cape Canaveral, Florida November 16, 2009. Atlantis lifted off its seaside launch pad on Monday, loaded with spare parts to keep the International Space Station flying after the shuttles are retired next year. REUTERS/Scott Audette

Can Florida re-launch itself?

The sunshine state's space program is a boon for local businesses, especially when a shuttle takes off. But what happens when the 29-year old program comes to a close next year?  Full Article 

U.S.