Arthur “Chip” Bottone will collect a $250,000 annual salary, plus a $20,000 sign-on bonus, to spearhead global growth for Danbury-based FuelCell Energy Inc., public filings show.
Bottone, 49, formerly an executive with Ingersoll Rand, was hired this week as senior vice president and chief commercial officer.
FuelCell’s power plants run on a variety of fuels, including renewable wastewater gas, biogas from beer and food processing, as well as natural gas and other hydrocarbon fuels.
Bottone’s role is to increase sales to industrialized and Third World nations.
According to a company filing with the Securities and Exchange Commission, Bottone’s annual base salary is $250,000, plus he is entitled to health, life, long-term disability and 401(k) retirement.
He also can collect the $20,000 sign-on bonus once he reaches 30 successful days on the job, the filing says.
Bottone will receive an initial grant of restricted stock valued at $200,000, the filing said. The grant will vest over four years at the rate of 25 percent per year.
He also is eligible for FuelCell’s management incentive plan, that would pay him up to 30 percent of his base pay, or $75,000, if the company meets certain performance targets.
If he is laid off, Bottone can collect his salary and benefits for six months, the filing said.
