Brian Niccol could earn over $100 million in a multi-year pay package

The new CEO’s base compensation is $1.6 million a year, with an annual bonus that could range from more than two to four times his salary, depending on the company’s performance.

He received a $10 million signing bonus and annual stock awards valued at $23 million that will vest starting next year. To compensate for his departure from Chipotle, Niccol will also receive a $75 million equity grant that will be distributed over three years.

Including multi-year shares, Niccol’s total compensation could reach more than $113 million. Niccol earned $22.5 million at Chipotle last year, while his predecessor, Laxman Narasimhan, earned $14.6 million over the same period, Reuters reported.

“Brian Niccol has proven to be one of the most effective leaders in our industry, generating significant financial returns over many years,” Starbucks told Fortune in a statement. “His compensation at Starbucks is directly tied to the company’s performance and the shared success of all stakeholders.”

The company will also reimburse Niccol’s relocation expenses if he decides to move to Seattle and cover up to three months of temporary housing costs there. He’ll get a driver in Seattle on Starbucks’ dime.

Starbucks as a whole does not encourage remote work. Last year, then-CEO Howard Schultz asked employees to work from the office at least three days a week, Bloomberg reported last year.

Tech leaders, including former Google CEO Eric Schmidt, have recently criticized remote work models. Schmidt said prioritizing work-life balance has hurt the tech company’s competitiveness and productivity in the AI ​​race. He later retracted his remarks.

Niccol starts as CEO on Sept. 9, according to the SEC filing.

Starbucks did not immediately respond to a request for comment from Business Insider sent outside standard business hours.