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Casino equipment maker and games provider Scientific Games Corp says that on Friday it agreed a new three-year deal with its chief executive Barry Cottle (pictured), which will see his annual base salary rise by 2.9 percent, to US$1.80 million, from US$1.75 million.
The new arrangement takes effect on June 1, and runs until May 31, 2024.
The same filing said that former banker Tim Throsby, and Hamish McLennan, who joined the Scientific Games board on October 1, and October 29, respectively, would receive “sign-on awards” in the form of restricted-stock units.
Mr Cottle’s new employment deal will be “subject to automatic extension for an additional year at the end of the term and each anniversary thereof,” unless “timely notice of non-renewal” is given by either side, said the group in a Friday filing in the United States.