Liguori's Discovery: $4.7 Million Employment Deal
COO's pact with programmer includes $1 million in salary, $3.7 million in incentives
By Mike Farrell -- Multichannel News -- Broadcasting & Cable, 12/10/2009 7:07:10 PM
Liguori, former chairman of entertainment for Fox Broadcasting, was named chief operating officer of Discovery earlier this week.
According to the SEC documents, the three-year deal includes a $1 million base salary and annual incentive compensation equal to 100% of his base salary. In addition, Liguori will receive a $200,000 signing bonus and is eligible to receive non-qualified stock options worth up to $1.25 million and preferred restricted stock units valued at $1.25 million.
Liguori is eligible to receive an expense payment of $100,000 within 30 days of his starting date (Jan. 19) to defray the cost of transitional housing -- he will be required to move to the Washington, D.C. area; Discovery is headquartered in Silver Spring, Md. -- furniture rental and the purchase of needed household items.
Click here for the full story at Multichannel.com
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