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Capital Business
Posted at 12:14 PM ET, 03/05/2012

SAIC CEO Jumper to receive $1.2 million base salary

McLean-based contracting giant Science Applications International Corp. said last week that its new chief executive will earn a base salary of $1.2 million and receive a $150,000 signing bonus.

The company announced last month that John P. Jumper, a former Air Force chief of staff who has spent five years on SAIC’s board, would take over the reins from outgoing chief executive Walter P. Havenstein.

Jumper, who started March 1, will also have a target incentive of $1.4 million and the potential to receive up to $2.21 million in cash awards in fiscal 2013, based on his and the company’s performance. Additionally, he will be eligible for equity awards of up to $4.5 million, according to a filing with the Securities and Exchange Commission.

If Jumper is involuntarily terminated during his first two years for reasons other than cause, he will receive his base salary, target short-term cash incentives and benefits for the balance of that time frame.

SAIC said last month it would pay Havenstein a lump sum of about $920,000 when he retired and would continue to pay his normal base salary — $1 million annually — and benefits through his retirement date of Jan. 31, 2013. Havenstein remains eligible for a cash incentive award for both the most recently ended fiscal year and the one that will end in January of next year, which the company said will be prorated.

SAIC also announced today that Stu Shea, president of its intelligence, surveillance and reconnaissance group has been promoted to chief operating officer.

By  |  12:14 PM ET, 03/05/2012

Tags:  SAIC, government contracting, John Jumper, Walt Havenstein

 
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