Former Microsoft executive Steven Sinofsky has finalized his leaving agreement with the software giant this week. The ex-Windows chief is being rewarded with 418,361 shares ($14.2 million at current stock price). The “Retirement Agreement” also reveals that Microsoft is enforcing a non-compete agreement that will prevent Sinofsky from “accepting employment at certain competitors or encouraging certain customers of Microsoft to choose a competing offering to Microsoft products,” this is only valid until December 31st 2013. Sinofsky will also be prevented from criticizing the software maker as part of a “not disparage Microsoft” clause. Is Microsoft hiding any thing?
“Given Steven’s 23 years of strong service at Microsoft, which included leading teams that produced six versions of Office and two versions of Windows, the company will continue to provide him with the economic value of the stock awards he earned during his employment, similar to the retirement benefits we provide employees who work at least 15 years and retire at 55 or older. This agreement provides a number of important considerations for Microsoft, including a commitment that Steven will continue assisting with intellectual property litigation until January 1, 2017.”
Source: SEC Filings
