Online travel booking company Wotif.com Holdings (ASX:WTF) has extended its contract with CEO and managing director Robbie Cooke until January 2014.
Cooke's fixed remuneration package remains unchanged at $875,000 per year including super, with an annual review of this sum to be conducted every June.
The contract may now be terminated by Cooke on six months' notice with no entitlement to severance payments, or by Wotif.com, without cause, so long as the company pays 12 months' remuneration.
Cooke will also be subject to a 12-month restriction on working for a competitor to Wotif.com on termination or expiry of the contract.
WTF shares are today trading 0.41% higher at $4.860.