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News - Marsh announces Cherkasky deal.
(From Reinsurance)
Marsh & McLennan has said that it will pay chief executive Michael Cherkasky at least $3.5m in salary and bonus for 2005 under a new three-year contract.
Under the deal, Mr Cherkasky will receive long-term equity incentives with a combined annual target value of $5m, the company's filing with the US Securities and Exchange Commission.
The contract also includes a retention package of three-year restricted stock and performance-based stock options, each valued at $3.75m as of the grant date.
Mr Cherkasky replaced Jeffrey Greenberg on 25 October 2005 as Marsh's chief executive. Eleven days ...
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