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Norwegian president Stuart will have $650k salary

Norwegian president Stuart will have $650k salary
As president and chief operating officer of Norwegian Cruise Line, Andy Stuart will receive a $650,000 salary, and he'll be eligible for an annual bonus with a target amount equal to 75% of his base salary.

Previous president and COO Drew Madsen, 58, who joined the company in October, had a base salary of $750,000.

Stuart, 51, will be eligible to receive options to purchase 100,000 ordinary NCLH shares, according to a filing. The options will have a 10-year term and will vest in four annual installments on each of the first four anniversaries of the grant date.

Starting in 2016, Stuart will be eligible to receive equity awards on a basis consistent with other senior executives.

He'll also be entitled to a $1,500 monthly car allowance and five weeks of vacation per year.

Stuart's initial employment agreement has a one-year term and is automatically renewable for additional one-year terms.