NEW YORK, Oct 3 (Reuters) - Airline company United Continental Holdings Inc., formed Friday in the merger of UAL and Continental Airlines, said Chief Executive Jeff Smisek would receive an annual salary of $975,000.
Smisek, who had been CEO of Continental, my also receive 150 percent of his salary as an annual bonus. Pay details were disclosed by the company in a Securities and Exchange Commission filing Friday.
UAL and Continental merged to create the world's largest carrier by traffic.
Smisek, who has a three-year contract, also may receive a long-term incentive award next year with a value of $8.4 million as well as a one-time merger bonus of $4 million.
Glenn Tilton, who was CEO of UAL, retired Friday. He will get a retainer of $600,000 and grant of $150,000 in restricted stock each year.
Other top-paid United Continental executives have two-year contracts, including Chief Financial Officer Zane Rowe, who will receive an annual salary of $750,000.
(Reporting by Joseph A. Giannone; Editing by Diane Craft) Keywords: UNITEDCONTINENTAL/ (joseph.giannone@thomsonreuters.com; +1 646 223 6184; Reuters Messaging: joseph.giannone.reuters.com@reuters.net ) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Smisek, who had been CEO of Continental, my also receive 150 percent of his salary as an annual bonus. Pay details were disclosed by the company in a Securities and Exchange Commission filing Friday.
UAL and Continental merged to create the world's largest carrier by traffic.
Smisek, who has a three-year contract, also may receive a long-term incentive award next year with a value of $8.4 million as well as a one-time merger bonus of $4 million.
Glenn Tilton, who was CEO of UAL, retired Friday. He will get a retainer of $600,000 and grant of $150,000 in restricted stock each year.
Other top-paid United Continental executives have two-year contracts, including Chief Financial Officer Zane Rowe, who will receive an annual salary of $750,000.
(Reporting by Joseph A. Giannone; Editing by Diane Craft) Keywords: UNITEDCONTINENTAL/ (joseph.giannone@thomsonreuters.com; +1 646 223 6184; Reuters Messaging: joseph.giannone.reuters.com@reuters.net ) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.