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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 227.37

+0.3%

Dec 19 3:59 PM EST

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To: Bill Harmond who wrote (76877)	9/7/1999 5:30:00 PM
From: Eric Wells	Read Replies (1) of 164684

Galli will not be poor. Today's Wall Street Journal published the following information about Joe Galli's compensation package: 1. Galli was promised a $5 million signing bonus over two years - he has to stay at least two years to get the $5 million. 2. Galli received two option grants with prolonged 20-year terms to acquire 1.96 million shares (the article did not say whether that's "1.96 million total" or "1.96 million each - for a total of nearly 4 million". Nor did the article state the exercise price of the options). 3. The article also states: "He is also eligible for a separate bonus of as much as $20 million if Amazon's stock price is weak and certain options have little value. He can't begin collecting on the bonus until late June 2003. And Amazon won't finish paying the $20 million unless he remains employed there for 11 years." In case you felt you mis-read point number 3 (as I felt when I first read it) - it does indeed mean that Galli will get $20 million even if Amazon's stock tanks. The Amazon way. -Eric

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