United Continental discloses compensation plans for top execs

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NEW YORK – In a filing with Securities and Exchange Commission, United Continental Holdings Inc. disclosed that new CEO Jeff Smisek’s annual salary would be $975,000 and he would also be eligible for an annual bonus of up to 150% of his salary.

According to Reuters, Smisek, who has a three-year contract, also may receive a long-term incentive award next year with a value of $8.4 million as well as a one-time merger bonus of $4 million.

Former Chief Executive of UAL, Glenn Tilton, who retired last Friday, will receive a $600,000 retainer and a restricted stock grant of $150,000 each year.