United Technologies’ newly appointed chief financial officer will receive a base salary of $700,000 as well as stock and other incentives, the company announced.
Akhil Johri, who worked for UTC for 26 years before departing last year to take a job with Pall Corp., will receive 137,000 stock appreciation rights and 49,600 restricted stock units based on a share price of $113. The rights have a 10-year term and vest after three years of continued employment. The restricted units also vest after three years.
Johri will also receive a cash payment of $515,000 when he starts work next month to make up for the Pall awards he will forfeit by leaving the New York company.
Johri will also be eligible for a bonus of up to $700,000.
