Hugh Panero, President and CEO of XM Satellite Radio, got a bonus award totaling $575,850 for 2004, compared with $412,000 for 2003. He also received a salary totaling $476,854 in 2004, compared with $412,000 in 2003. (They seemed to have liked that number on 2003)
Interestingly enough, Panero's employment agreement, effective as of August 2004, dictates a base salary of $550,000 for the first year of the agreement, with increases to $600,000 in the second year and $650,000 in the third year.
So, in essence, he's underpaid!
[Link]
Leave a comment