Sarasota Memorial Hospital’s board approved a lucrative new contract for President and CEO David Verinder on Tuesday, a deal worth more than $12 million with provisions to keep him at the public facility’s helm through 2031.
Under a contract that had two years to go, Verinder earns $1.125 million, with the opportunity to earn up to 35% of his base compensation in addition if he hits certain annual goals. His compensation is reviewed annually at the end of each calendar year with the potential for increase. He also has the chance to earn roughly $750,000 of his base compensation if he hits a set of three-year goals, based on the on-time and on-budget openings of SMH-Venice and the Cancer Tower of the Brian D. Jellison Cancer Center at Sarasota Memoril.