Travicity
11-19-2010, 02:48 PM
Vince McMahon has signed a new employment contract with WWE effective Jan 1, 2011 for three years with additional year extensions unless WWE or McMahon choose not to extend.
Besides his current roles as Chairman and CEO, he will serve as Creative Director as well as be a writer and performer. He'll get an annual base salary of $1,100,000 as well as be entitled to receive an annual bonus target of 100% of base salary, depending on degree of achievement of corporate and individual performance.
He, along with immediate family members and invited guests, will be able to use the company aircraft for personal time if it's not in use for business purposes. He's entitled to 4 weeks of paid vacation per year. He cannot compete against WWE or its affiliates while under contract or if terminated, for up to one year after termination. If he is terminated or resigns with good reason, he will receive twice the amount each of his base salary and annual target bonus along with other accrued benefits.
PWI
Besides his current roles as Chairman and CEO, he will serve as Creative Director as well as be a writer and performer. He'll get an annual base salary of $1,100,000 as well as be entitled to receive an annual bonus target of 100% of base salary, depending on degree of achievement of corporate and individual performance.
He, along with immediate family members and invited guests, will be able to use the company aircraft for personal time if it's not in use for business purposes. He's entitled to 4 weeks of paid vacation per year. He cannot compete against WWE or its affiliates while under contract or if terminated, for up to one year after termination. If he is terminated or resigns with good reason, he will receive twice the amount each of his base salary and annual target bonus along with other accrued benefits.
PWI