Hear Macy's offers Handler $2.6M deal. (R.H. Macy and Company Inc. prepared to offer three-year employment package of $2.6 million to its co-chairman and co-chief executive officer, Mark S. Handler) (Brief Article)

Daily News Record, June, 1992 by Auerbach, Jonathan

NEW YORK (FNS) -- R.H. Macy & Co., Inc., is set to offer Mark S. Handler, its co-chairman and co-chief executive officer, a three-year employment package worth over $2.6 million, it was learned Monday.

The agreement, which would require bankruptcy court approval, provides for Handler to receive $880,000 a year, plus cost-of-living allowances, according to market sources.

In July, 1986, Handler entered a five-year employment contract paying an annual salary of $800,000. With benefits, Handler received $865,248 in the year ended August, 1991.

The old contract provided for automatic extensions after July 31, 1991, subject to a four-month notice of termination by either party.

The agreement remained in effect after Macy's filed its...

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