Valassis Gives NCH Boss Husselbee a New Car and Free Gas Through 2010

(MoneyWatch)  NCH Marketing CEO Brian J. Husselbee just closed a new compensation deal with Valassis, his parent company. Husselbee had been working without a contract since February. The new contract runs through 2010. Its perks include a car (with free gas and insurance) and he gets his bonus in full if he gets laid off.

Here are the details of the package:

• Base salary: $288,000.
• Bonus: $288,000
• Perks: "an automobile ... all of the related expenses for gasoline, insurance, maintenance and repairs; and ... financial planning, tax and estate preparation services."
• If let go: "a bonus in an amount equal to the maximum incentive compensation as outlined in Section 3(b) of this Agreement, whether or not earned" plus all benefits for 90 days.

NCH Marketing is better known in the U.K. where it handles coupons for clients such as Kellogg's, McVities, Diageo, Cadbury, and Unilever.

Husselbee's base compensation is similar to what he earned with Valassis last year. Of course, Husselbee is a pauper compared to Valassis CEO Al Schultz, who raked in $3.6 million last year.

• See BNET's previous coverage of the in-store marketing wars:
• Insignia Uses Valassis Trial to Bludgeon News America in Minn. Federal Case
• Valassis v. NAM Federal Trial Set for February; Judge Denies Pretrial Motions
• News America Talks Tough on Valassis Appeal But Borrows $1B, Just in Case
• News America Marketing Q2: Numbers Support Valassis' Monopoly Case
• Clients Overcharged by News America Listed in Court; Sara Lee: NAM "Is Raping Us and Enjoying It"