Microsoft Pays Executive $14 Million To Not Work for the Competition for a Year

This is a discussion on Microsoft Pays Executive $14 Million To Not Work for the Competition for a Year within the Android News forums, part of the Android.net category; Here's a story that proves some folks just live in a completely different world than the rest of us. Last November, Lead Windows exec, Steven ...

Results 1 to 2 of 2

Thread: Microsoft Pays Executive $14 Million To Not Work for the Competition for a Year

  1. #1
    Editor in Chief dgstorm's Avatar
    Join Date
    Dec 2010
    Posts
    4,720
    Thanked
    711 times

    Microsoft Pays Executive $14 Million To Not Work for the Competition for a Year


    Here's a story that proves some folks just live in a completely different world than the rest of us. Last November, Lead Windows exec, Steven Sinofsky resigned (was indirectly pushed out) from Microsoft. At the time of his departure, Microsoft gave him a generous exit bonus of $14 Million in stock options, which he would have vested if he had stayed with the company. This also happened to be a "non-compete" payoff agreement.

    Microsoft effectively paid Sinofsky $14 Million to simply NOT work at their seven biggest competitors: Amazon, Apple, EMC, Facebook, Google, Oracle & VMWare. This agreement ends on December 31st, 2013, at which time he can then work for any of these companies. The other stipulation was that he could not disparage Microsoft, nor solicit Microsoft employees for work at other companies. He was also restricted from encouraging Microsoft customers to choose competitorsí products.

    So, basically Microsoft wasn't too thrilled with his performance, and didn't offer him the promotion he wanted. They knew he wouldn't like this, thus facilitating his voluntary resignation. In the end, they basically gave him $14 Million in stock options for him to sit on his butt for a year before he can go work for their competitors. The average joe is lucky to get a one month severance package while being escorted to the door by security.

    This is pretty standard stuff in silicon valley, and we have heard stories like this before. Still, it's interesting to see the details on the numbers involved in agreements like this.

    It appears that some parachutes really are made of gold.

    Source: AllThingsD

  2. Android.net is the premier Android Forum. Registered users do not see these ads. .

  3. #2
    Super Moderator UltraDroid's Avatar
    Join Date
    Jan 2011
    Location
    Cleveland, Ohio - the North Coast, Baby!
    Posts
    7,570
    Thanked
    519 times
    (shaking my head) The rich get richer, while the rest of us just kind of whither away.
    GSM Galaxy Note 3 (Black) - Straight Stock
    GSM Galaxy Note 2 (Titanium) - Rooted running Jedi X20 Rom
    GSM Galaxy Nexus (Black) - Straight Stock

    GSM Samsung Galaxy S3 (Red) - Rooted running Deadly Venom v8.0.1 Rom


Remove Ads

http://www.scramblerducati.org/

Sponsored Links

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

Similar Threads

  1. Replies: 0
    Last Post: 06-19-2012, 03:40 PM
  2. Microsoft and OEMS $200 million marketing push
    By cereal killer in forum Android News
    Replies: 0
    Last Post: 01-04-2012, 04:51 PM
  3. Samsung Had Over 300 Million Handset Sales This Year
    By dgstorm in forum Android News
    Replies: 0
    Last Post: 12-13-2011, 11:58 AM
  4. Replies: 0
    Last Post: 08-04-2011, 01:20 PM
  5. 13 Year Old Wins $50,000 In LG Texting Competition
    By allyAndroid in forum LG Ally
    Replies: 4
    Last Post: 09-24-2010, 08:29 AM
Android Forum