“Regarding his appointment as President and Chief Executive Officer, Mister Sarbu signed an employment contract with CME Media Services Limited dated 27 July 2009. His appointment is good until 13 December 2013. According to this employment agreement, Mister Sarbu has the right to receive an annual salary worth $1,800,000 [some €1.25 million],” the CME note states.
If Sarbu manages to surpass the set targets referring to earnings before interest, taxes, depreciation, and amortization (EBITDA), his annual salary may amount to $4.5 million (approximately €3.13 mln). Thus, according to the CME contract, the businessman “is also eligible, as of 1 January 2010, to earn an annual bonus of 100 percent of his base salary, for meeting the EBITDA targets stipulated in his work contract, and an additional bonus of up to 50 percent of his annual base salary, for surpassing the EBITDA targets. He also has the right to earn bonuses for special performances in meeting specific goals, set by the Committee for the Compensation of the Board of Directors.”
The moment Adrian Sarbu was appointed CEO of CME coincided with the announcement of the transaction by which the American media group acquired the remaining 91.25 percent share package of the MediaPro Entertainment division of the MediaPro group, estimated by the U.S. Merrill Lynch bank to be worth $97.6 mln (some €67.9 mln).
