Sirius XM Satellite Radio (SIRI) Increases Mel Karmazin's Base Pay By 250k
On June 30, 2009, Sirius XM Satellite Radio (Nasdaq: SIRI) amended its employee agreement with Mel Karmazin. Sirius XM Radio increased Karmazin's base salary from $1,250,000 per year to $1,500,000 per year beginning on January 1, 2010, and provides for the grant of an option to purchase 120,000,000 shares of our common stock, at an exercise price of $0.430 per share.
The Amendment extends the term of the Employment Agreement through and until December 31, 2012,
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