Sunrise Senior Living, Inc., has renewed CEO Mark Ordan’s contract through December 1, 2012, with automatic renewals each year after that, citybizlist reported.
The Mclean, Virginia-based assisted living provider reported in a recent SEC filing that Ordan will receive a $3 million re-signing bonus and an annual base salary of $650,000, along with other fringe benefits and stock options.
“For 2009, Ordan earned total compensation of $2,427,500, of which $652,500 was salary,” citybizlist reported.
Sunrise has experienced both financial strife and resurgence during Ordan’s leadership since he took the helm in November 2008. The company experienced a significant third quarter in 2010, earning more than $18 million compared to a loss of $44 million a year ago.