With Walt Disney Co. extending Chief Executive Robert Iger’s contract by two years, he also stands to leave in 2018 with a bonus as large as $60 million, reports the Los Angeles Times’ Company Town.
“According to a filing with the Securities and Exchange Commission, the performance-based retention bonus is tied to Disney meeting certain operating income targets,” the article notes.
A bonus would be triggered if the company generates more than $76.01 billion in cumulative operating income over the five-year period ending Sept. 29, 2018, the story reports.
The bonus would rise in a linear fashion and would top out at $60 million if Disney generates cumulative operating income of more than $78.314 billion over the period.
The report adds: “The bonus is by no means guaranteed. For Iger to receive it, Disney’s operating income would have to increase dramatically. For the five-year period from 2009 to 2013, the company generated cumulative operating income of $43.771 billion.”