Cumulus Media Inks Suzanne Grimes to New Deal
| RADIO ONLINE | Thursday, February 1, 2018 | 6:10pm CT |
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 Suzanne Grimes |
According to an 8K filing with the SEC, Cumulus Media inks Suzanne Grimes, the company's Executive Vice President of Corporate Marketing and President of Westwood One division, to an amended employment deal. Effective February 1, the initial term of the Grimes' agreement has been extended through July 31, 2020, and her salary will increase to $650,000 per year on July 3. The amendment also establishes her target bonus at $500,000 for calendar year 2018.
In addition, under certain performance goal conditions, Grimes will be eligible to receive an additional annual bonus in a target amount of 20% of her base salary, with the target bonus being $65,000 for calendar year 2018. Finally, she's eligible to receive an annual award of stock options or restricted shares, granted by the company's CEO and Compensation Committee.
