Harvey Weinstein’s salary, perks and many other details about his tenure at The Weinstein Co. are now out in the open thanks to a new filing in Delaware bankruptcy court that contains his 2016 employment contract. (Click below to page through the full contract.)
The three-year agreement is dated October 20, 2015, and took effect in January 2016. It was entered into the legal record because the six women pursuing a class action lawsuit against Weinstein for unwanted sexual contact say it proves that the TWC board and others knew about Weinstein’s pattern of conduct. Lawyers for Weinstein have countered that the existence of the clause in the contract does not mean the company was aware of or condoned his behavior.
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The key clause that the accusers say supports their claim lays out ramifications for misconduct by Weinstein. “If your misconduct results in the company making an obligated payment to a person damaged by such misconduct,” it warns, “you will pay the company liquidated damages of $250,000 for the first such instance, $500,000, for the second such instance, $750,000 for the third such instance, and $1,000,000 for each such additional instance.”
As the class action case coalesces, Weinstein is also battling rape charges in New York, where he entered a not-guilty plea on Tuesday. Other cities are also in varying stages of criminal investigations stemming from his decades at the helm of Miramax and the Weinstein Co., after dozens of women have come forward with accusations of sexual assault and harassment.
Weinstein was paid a base salary of $2 626,275, in 12 monthly installments, per the agreement. He was guaranteed $500,000 a year for private air travel and when he didn’t fly private, he was contractually assured of flying first class. “You shall be entitled to an allowance for (or at your request the company shall provide) a first-class car and a driver,
limousine transportation and first class private business travel expenses, including hotel suites and per diems,” the contract says.
It wasn’t all limos and private jets, of course. The contract says Weinstein was also obligated to bring down overhead costs at the company at a point in its checkered history when belt-tightening had become more urgently necessary. The former co-head was instructed to “use your best efforts to reduce the company’s overhead for 2016 to between $40 million and $45 million, for 2017 to between $37.5 million and $42.5 million, and for 2018 to between $35 million and $40 million.”
Here is the full contract:
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