New York - Radio host Howard Stern filed a complaint against his employer, Sirius XM Radio (NASD: Siri), claiming the company failed to provide grants of performance shares in his contract, according to The Hollywood Reporter. Stern has signed a multi-million dollar deal with Sirius in 2004, before its merger with XM in 2008. Before the merger, the complaint alleges, "Stern decided not to require the [stock] payments while Sirius was in trouble or would have on the brink of bankruptcy."
After the merger, Sirius XM exceeded our performance targets set in the contract Stern, but presumably did not provide the promised actions.
"Now, Stern has put the company on the map, brought millions of subscribers, and helped to win over his main competitor, Sirius has unilaterally decided that Stern was paid enough," the complaint reads.
For its part, Sirius XM has denied allegations Stern.
"Sirius XM has signed a contract until 2015 with Howard Stern, and is an important part of our business," the company said in a statement.
"We were therefore surprised and disappointed by the subsequent trials made by his production company and agent. We got all our obligations under our contract with 2004-Howard, his agent and production company.
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