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 executiveās 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 āRetirement Agreementā appear to be fairly standard for such a scenario, stipulating that Sinofsky must ānot compete with Microsoft by accepting employment at certain competitorsā or encourage ācertain customers of Microsoft to choose a competing offering to Microsoft products.ā The non-compete proviso stays in place until the end of 2013, after which time heās free to take up a position with a Microsoft rival.
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