Zynga reveals in a filing (spotted by GI.biz) with the U.S. Securities and Exchange Commission (SEC) that it signed a deal worth around $50 million to acquire soon-to-be-former Microsoft president of interactive business Don Mattrick as its new CEO. Mattrick receives $1 million in a flat annual salary, plus a one-time signing bonus of $5 million and another $40 million in stock options ($25 million vested over three years, $15 million over five). The highest bonus he can receive in his first year is $4 million (400-percent of his salary). And starting in 2014, Mattrick will be eligible for an additional $7 million in stock options, based on performance reviews.
Mattrick has had a fascinating career so far, and he’s now ending his six-year stint overseeing the Xbox brand at Microsoft to become CEO of Zynga. The former Microsoft exec is expected to help turn things around at Zynga, which has had a rough year so far. In the meantime, Microsoft CEO Steve Ballmer has temporarily taken over some of Mattrick’s duties, and rumor has it current Windows head Julie Larson-Green could be appointed to replace him.
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