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Steven Sinofsky signs ‘retirement agreement’ with Microsoft, pockets $14 million in the process | |
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| Time: 04:16 EST/09:16 GMT | News Source: *Linked Within Post* | Posted By: Robert Stein | ||
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Steven Sinofsky. Remember him? Course you do. He was the fella whose sudden departure from Microsoft last November after 23 years at the company left many wondering if everything was jim-dandy at the Redmond-based computer giant. Almost eight months on, the terms of the former executive’s departure have been finalized, with a Securities and Exchange Commission filing released Wednesday revealing Sinofsky, who was head of Windows at Microsoft, is walking away with over 400,00 shares (unvested stock awards in addition to some stock from his final year of work) worth $14 million at the current price. Conditions attached to the “Retirement Agreement” appear to be fairly standard for such a scenario, stipulating that Sinofsky must “not compete with Microsoft by accepting employment at certain competitors” or encourage “certain customers of Microsoft to choose a competing offering to Microsoft products.” The non-compete proviso stays in place until the end of 2013, after which time he’s free to take up a position with a Microsoft rival. | ||
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