Tuesday, November 18, 2008
Nexstar's Sook to be become million dollar CEO
Nexstar Broadcasting CEO Perry Sook has a new contract which will pay him a million dollars during its final year.
The contract, filed today with the Securities and Exchange Commission, will keep Sook with the company through Dec. 31, 2011.
Sook's base salary, set at $750,000 this year, will increase to $900,000 in 2009, $950,000 in 2010, and $1 million in 2011.
Of course, that total is just the base. Sook is also eligible for annual bonuses of $375,000, $450,000, $475,000, and $500,000 over the next four years, according to the contract.
Sook also received $350,000 for signing a non-compete clause.
Nexstar Broadcasting owns and operates KSNF and KODE in Joplin and KSFX and KOLR in Springfield.