Daryl Otte, the new chief executive officer of TheStreet.com, will receive a base salary of $425,000 and have the potential of earning a bonus up to $320,000, according to an SEC filing by the company late last month.
Otte will also receive 650,000 restricted stock units as part of his employment agreement, the filing disclosed.
His agreement also states that if he is fired without cause, he will receive four weeks of pay for every year he has been CEO and 1.33 weeks of pay for every year he has been on the board.
If the company is sold before Nov. 11, 2011, Otte would receive aÂ pay package of two times his base pay plus the bonus.
The filing can be read here.