Microsoft Awards Steven Sinofsky With $14 million In Shares Along With A Non-compete Agreement

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In the recent SEC filing, Microsoft has revealed that it has awarded 418,361 shares (about 14 million in current value) to former Windows president Steven Sinofsky. It also revealed that Microsoft has also signed a non-compete agreement with Steven to prevent him landing in other companies, “accepting employment at certain competitors or encouraging certain customers of Microsoft to choose a competing offering to Microsoft products,” until December 31st 2013.

Here is Microsoft’s official response,

Given Steven’s 23 years of strong service at Microsoft, which included leading teams that produced six versions of Office and two versions of Windows, the company will continue to provide him with the economic value of the stock awards he earned during his employment, similar to the retirement benefits we provide employees who work at least 15 years and retire at 55 or older. This agreement provides a number of important considerations for Microsoft, including a commitment that Steven will continue assisting with intellectual property litigation until January 1, 2017.

 

Source: SEC via: The Verge

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