Borders filed documents with the SEC regarding severance payments for George Jones and the inducements provided to Ron Marshall to take over. Jones’s parting gifts include 18 months’ base salary plus target bonus, plus 75 percent of his promised retention bonus, good for $510,000, as long as he provides “transition consulting services” for the next three months. New ceo Marshall gets an immediate signing bonus of $250,000, plus a relocation allowance of up to $100,000 and $15,000 in legal fees. He has a “fixed three-year term of employment” with base salary of $750,000 a year and “annual bonuses at a […]
