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Ford to pay chief executive Mulally bonus following retirement: filing

Reuters
February 21, 2013, 12:52 am TWN

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DETROIT -- Ford Motor Co. will pay a bonus to Chief Executive Alan Mulally after he leaves the company, in a nod to his role in revitalizing the second-largest U.S. automaker since his hiring in 2006.

Ford agreed to give Mulally a lump sum that would be four times what the company contributed to his retirement plans during his tenure, according to a Feb. 13 pact included in Ford's annual regulatory filing on Tuesday.

The filing is meant to clarify the terms of Mulally's initial hiring agreement, Ford spokesman Jay Cooney said. Ford did not disclose the amount of this bonus.

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