Jeffrey Katzenberg’s New Contract Will Keep Him At DreamWorks Animation Through 2017

The CEO and just about all of the other top execs have landed new employment deals, DreamWorks Animation says in an SEC filing. Jeffrey Katzenberg‘s agreement, which was due to expire in April 2014, now runs through October 23, 2017 and guarantees him an annual salary of $2.5M, up from $1 — an amount that’s more common in Silicon Valley when execs own large stakes in their companies. But his long-term equity incentive awards were reduced to a target of $4.5M from $8M. Terms also allow him to be reimbursed for using a private jet for business-related travel, and for security services. COO Ann Daly also has a new agreement that, like Katzenberg’s, runs through October 2017. Her base salary will rise to $1.5M a year from $1M, and could provide her with cash incentives that will hit $1.5M beginning next year, twice her current take. Andrew Chang plans to remain General Counsel at least to the beginning of 2016.

Related: DreamWorks Animation Chairman Replaced

The execs also will receive special benefits if someone else takes over DreamWorks Animation and wants to clean house. Among other things, they can continue to collect their base salaries, benefits and bonuses for either the rest of their contracts or for two years — which ever is longer.

This article was printed from