|The Denver Post
Knight Ridder/Tribune Business News
Mar. 6--Robert Katz, Vail Resorts' new chief executive, will start off with an annual base salary of $815,000, plus the chance to make at least 80 percent of that in annual bonuses, according to a regulatory filing made Friday by the company.
Katz, 39, will also be granted 30,000 restricted shares and 300,000 stock appreciation rights, both granted over the next three years. He will also be given $69,917 for services performed before he officially started.
Katz, a longtime Vail Resorts director, replaced Adam Aron as CEO last week.
Aron worked for the company for almost a decade. He will receive two payments as part of his separation agreement: $1.51 million on Aug. 31 and $1.14 million on Sept. 20.
For fiscal year 2005, Aron made a base salary of $749,346, plus a bonus of $924,000 and 120,000 in stock options.
Vail Resorts' stock closed at $33.52 Friday, up 2 cents.
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