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As president and general manager of its Lancaster division, the largest of the firm's seven plants, Eckstein will get an annual salary of $250,000 and be eligible for a bonus up to $125,000. He also will get 10,000 stock options, vesting over three years and exercisable at $12.45. Eckstein also will get 5,000 shares of Herley common at the end of three years.
Herley common traded this week near $13 a share.
Eckstein's compensation as the leader of Herley's 300-employee plant on Industry Drive was disclosed by the firm this week in a filing with the Securities and Exchange Commission.
The Lititz resident worked for Herley from 1998 to 2004 in engineering, business development and division management positions.
He then spent five years with CPI, becoming president of its Malibu division.
Eckstein's return is the latest move in a top-level management shakeup at Herley, a Lancaster-based defense electronics company.
The first wave of changes, disclosed in July, included the departure of chairman and chief executive officer Myron Levy. Levy also was acting general manager of the Industry Drive plant.
