Hyderabad: With Hyderabad-born Satyanarayana Nadella, alias Satya Nadella, occupying World’s top spot- CEO of Software giant Microsoft, now focus is shifted to his income.
Going by reports, Satya will get a base annual salary of USD 1.2 million as new CEO of Microsoft, but his overall package after taking into account bonus and stock awards may reach USD 18 million (Rs 112 crore) a year besides various other perks.
As per his new employment agreement, the Indian-origin CEO of USD 78-billion software major will be paid his salary on ‘semi-monthly’ basis at an annual rate of USD 1.2 million (Rs 7.5 crore). 46-year-old Nadella, who has been with Microsoft for 22 years, would also be eligible for a cash bonus, which can range from zero to 300 per cent, resulting into total payout of up to USD 3.6 million. Besides, he would get stock awards to the tune of USD 13.2 million, taking the total package to USD 18 million.
Nadella’s annual salary would be determined by the company’s Executive Incentive Programme (EIP). The top executive would be eligible for an annual EIP stock award worth USD 13.2 million starting 2015 fiscal year, according to Microsoft’s offer letter to Nadella.
Nadella, who became the third CEO of Microsoft after Bill Gates and Steve Ballmer, was paid an annual salary of USD 675,000 for the fiscal year 2013 as the President of the firm’s server and tools business. Nadella pocketed a cash bonus of USD 1.6 million last year. Microsoft’s fiscal year runs from July 1 to June 30, reports say.