TD Ameritrade CEO Tomczyk signs new contract at $6.5 mln a year

Fri Aug 2, 2013 12:26pm EDT
 
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By Jed Horowitz

NEW YORK Aug 2 (Reuters) - The chief executive of discount brokerage firm TD Ameritrade Holding Corp has signed a four-year employment agreement guaranteeing an annual base salary of $900,000 and target annual cash and stock incentives of $5.6 million through Oct. 1, 2017.

The new contract for Fredric Tomczyk, effective at the start of the company's fiscal year in October, replaces a five-year agreement signed when he became CEO in 2008, the Omaha, Nebraska-based firm said in a regulatory filing on Thursday. Terms of the new contract are largely unchanged.

Tomczyk, 58, was a retail banking and wealth management executive at Toronto-Dominion Bank before joining TD Ameritrade as chief operating officer in 2007. The Canadian bank owns about 42 percent of TD Ameritrade, the world's largest discount broker as measured by clients' daily trades.

Tomczyk, who played varsity ice hockey at Cornell University will be reimbursed for moving expenses related to his relocation to Canada when his employment ends with the company, according to the new contract. He currently lives in New York City and works from TD Ameritrade offices in New Jersey.

The new employment contract covers car service transportation to and from work as well as the private plane business travel coverage that was in his previous contract.

Tomczyk's 2012 pay package totaled $6.5 million, including base salary of $700,000, and stock and incentive awards of $5.8 million. He was also granted $4.8 million worth of restricted future stock for his fiscal 2012 performance.

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