You can now read 10 articles in a month for free on BostonGlobe.com. Read as much as you want anywhere and anytime for just 99¢.

The Boston Globe

Business

Sears sets Edward Lampert’s salary as CEO at $1

NEW YORK — Sears Holding Corp. has signed a contract with Edward Lampert to keep him on as chief executive at a salary of $1 per year.

A regulatory document filed Wednesday shows the billionaire hedge fund manager will be paid an annual base salary of $1, but with the opportunity for a bonus of up to $2 million in cash or stock and up to $4.5 million in stock per year.

Loading comments...

You have reached the limit of 10 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week