SEC Watch: AOL’s Cahall Got Retention Bonus 10 Days Before Leaving; Armstrong Caps ’09 At $25M

AOL

AOL (NYSE: AOL) has to prove its mettle this year in full public view, in more ways than one. And 2010 may not be a great year for compensation increases for the top execs. In line with that, the company has decided to not increase based salary this year, according to a SEC proxy filing this morning, same as 2009. However, as always, other perks more than make up for it. Interestingly, Ted Cahall, till recently the CTO of AOL, got a secondary retention payment 10 days before the company announced his departure. From the filing: “Pursuant to a secondary retention program for Mr. Cahall established in December 2008, Mr. Cahall received a retention payment of $100,000 on May 15, 2009 and a retention payment of $354,000 (an amount equal to 60% of Mr. Cahall

loading

Comments have been disabled for this post