Big Bonuses Await Applied Materials Execs In $29B Deal

Law360, New York (September 30, 2013, 2:56 PM ET) -- Applied Materials Inc.'s top executives will get retention bonuses of more than triple their annual pay six months after closing the California-based company's $29 billion merger with Tokyo Electron Ltd., according to documents filed Monday.

Applied Materials' compensation committee has approved payments for general manager Randhir Thakur and chief financial officer Robert Halliday of 352.5 percent of their annual salary at the time the bonus is awarded, which will happen either in March 2015 or six months after the merger closes, which is expected to occur...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers

Required