Jeffrey Katzenberg has reached a contract extension with DreamWorks Animation, where his term as CEO will now run through 2017. Ann Daly’s term as COO has also been extended through 2017.
Katzenberg, who had been receiving $1 million per year, will receive an annual base salary of $2.5 million under the new agreement and will be eligible for annual cash bonuses of $4 million. He will also be eligible for long-term equity incentives of $4.5 million, reduced from $8 million under his previous agreement.
Daly’s annual base salary is being increased from $1.012 million to $1.5 million, and she will be eligible for annual cash bonuses of $750,000 in 2012, increasing to $1.5 million in 2013. Additionally, she will be eligible for long-term equity incentives of $3.5 million annually, up from $2.5 million under her previous agreement.
No arguing that Mr. Katzenberg and Ms. Daly work hard for their money. DreamWorks Animation continues to be a leader in the feature animation business despite not being wholly owned by one of our fine entertainment congloms. Navigating the choppy waters of the entertainment business can't be an easy task and Katzenberg and Daly successfully do so with clockwork regularity.
Our congratulations to both! We look forward to continuing to enjoy the fruits of their efforts.
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