Here's a Bonus Plan to Drool Over

An SL Green executive's deferred compensation agreement floated out onto the Web over the weekend, signed on Friday. It's not an unusual occurrence given disclosure requirements--SL Green Realty Corp. is an NYSE exchange-traded REIT--but it's always fun to voyeur how the guys at the very top live large.

The deal says that Andrew Mathias gets, in the form of "stock units," $400,000 on Jan. 1, $450,000 on Jan. 1, 2015, and then $500,000 each successive Jan. 1, till death or firing do the REIT and the executive part. His vesting date is Dec. 31, but vesting is accelerated under his employment agreement if Mathias leaves before a year's stock vests. The agreement supercedes Mathias's previous 2010 deferred compensation plan.

The REIT is at $91.79 a share at this writing, closing in its 52-week high of $98.25, and up from a $70.73 low.

According to Reuters, Mathias has been with the company since 1999.  He is SL Green's president, and oversees its deals.

Mathias's "basic compensation" is more than $8.2 million annually, Reuters reports.

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