Tech
Virgin Media is obliged to pay Sir Richard Branson £100,000 per year for appearances on behalf of the company, it has emerged.
The disclosure was made in a proxy statement filed to comply Securities and Exchange Commission regulations in the US.
The document revealed that Sir Richard was paid £60,822 last year for his promotional work on behalf of Virgin Media.
"We... have an agreement with Virgin Group Investments Limited, Sir Richard Branson’s employer, and Virgin Management Limited, relating to personal public appearances by Sir Richard to promote us and our services," the company said. "We are obligated to pay an annual fee of £100,000 under this agreement."
The disclosure was made in a proxy statement filed to comply Securities and Exchange Commission regulations in the US.
The document revealed that Sir Richard was paid £60,822 last year for his promotional work on behalf of Virgin Media.
"We... have an agreement with Virgin Group Investments Limited, Sir Richard Branson’s employer, and Virgin Management Limited, relating to personal public appearances by Sir Richard to promote us and our services," the company said. "We are obligated to pay an annual fee of £100,000 under this agreement."
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