Microsoft's former Windows head Steven Sinofsky has signed a very lucrative "Retirement Agreement" as he leaves the company.
The exec has been rewarded 418,361 shares of Microsoft stock (currently valued at $14 million) but he also has signed a no-compete agreement which will block him from "accepting employment at certain competitors or encouraging certain customers of Microsoft to choose a competing offering to Microsoft products" until the end of the year. Additionally, Sinofsky cannot criticize the company in any way as part of his "not disparage Microsoft" clause.
Sinofsky announced he was leaving last November, right after the launch of Windows 8 and the criticism that came with it. Many sources had claimed at the time that Sinofsky had begun to clash with many other executives and the company itself over creative controls for Windows and Windows Phone.
Microsoft released a statement, as well: "Given Steven's 23 years of strong service at Microsoft, which included leading teams that produced six versions of Office and two versions of Windows, the company will continue to provide him with the economic value of the stock awards he earned during his employment, similar to the retirement benefits we provide employees who work at least 15 years and retire at 55 or older. This agreement provides a number of important considerations for Microsoft, including a commitment that Steven will continue assisting with intellectual property litigation until January 1, 2017."
Sinofsky announced he was leaving last November, right after the launch of Windows 8 and the criticism that came with it. Many sources had claimed at the time that Sinofsky had begun to clash with many other executives and the company itself over creative controls for Windows and Windows Phone.
Microsoft released a statement, as well: "Given Steven's 23 years of strong service at Microsoft, which included leading teams that produced six versions of Office and two versions of Windows, the company will continue to provide him with the economic value of the stock awards he earned during his employment, similar to the retirement benefits we provide employees who work at least 15 years and retire at 55 or older. This agreement provides a number of important considerations for Microsoft, including a commitment that Steven will continue assisting with intellectual property litigation until January 1, 2017."
