Nasdaq OMX Group said it entered into a new five-year employment agreement with Robert Greifeld, its chief executive officer.
The new agreement replaces an existing pact that went into effect January 1, 2007, the company said in a filing with the Securities and Exchange Commission. The agreement is dated February 22.
Greifeld also entered into into a “Confidentiality, Non-Solicitation and Invention Assignment Agreement,’’ which requires him to get prior approval before he shares company information with any outside parties and deems any ideas, improvements and trade secrets he comes up with to be considered company property.
The agreement provides for an:
• Annual base salary of not less than $1,000,000; and
• Annual incentive compensation that is targeted at not less than 200% of base salary based on performance goals.
Greifeld may be granted equity awards under a stock incentive plan. He is prohibited from rendering services to a competing entity for a period of two years following the date of termination of employment.
Tom Steinert-Threlkeld writes for Securities Technology Monitor.