James Murdoch gets £1.7m salary and bonuses up to £8m

In a document filed with US financial regulators today, News Corporation gives details of James Murdoch’s pay in his new role running the media empire’s European and Asian operations:

The Compensation Committee determined that Mr. J.R. Murdoch: (a) will be paid an annual base salary of 2.3 million Euros (approximately US$3.4 million); (b) is eligible to receive, on an annual basis, a bonus based on the performance of the operating divisions over which Mr. J.R. Murdoch has responsibility for the applicable fiscal year, with a target opportunity of 75% (and a maximum opportunity of 100%) of base salary, to be paid in cash; and (c) is eligible to receive, on an annual basis, a performance-based bonus of between $0 million and $12.5 million in a particular fiscal year based upon the Company’s adjusted earnings per share … to be paid in a combination of cash and cash-settled restricted stock units (‘RSUs’) that will vest over a three-year period

That’s £1.7 miliion base salary, one bonus that could double that, and another bonus worth up to £6.3m.

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