Projo Biz Blog

Jeffrey M. Thompson, president and CEO of Towerstream Corp., the Middletown-based wireless Intenet access company, got a pre-Christmas pay package that will give him a base salary of $225,000 a year.

Thompson's employment contract, agreed to on Dec. 21, allows his base salary to be increased by annual hikes in the consumer price index or five percent, according to a filing with federal regulators. He is also eligible for a bonus of up to 75 percent of his base salary, as set by the company's directors.

In addition, the company will pay 100 percent of all costs associated with Thompson's employee benefits, including health insurance.

Towerstream (TWER: Nasdaq) was founded in 2000 and went public on a major exchange last May.

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