Lionsgate’s CEO has signed a new long-term agreement with the company, just ahead of the completion of a $4.4 billion merger with Starz, according to The Hollywood Reporter.
The new employment contract will keep Jon Feltheimer at the studio through May 2023.
“The latest contract, agreed to on Oct. 11 by the studio’s compensation committee and now in effect, will see Feltheimer continue to receive a base salary of $1.5 million a year, Lionsgate disclosed in an SEC 8-K filing on Thursday,” THR reports. “He will also receive an annual performance bonus targeted at 100 percent of his base salary and ‘limited use’ of the studio’s private jet.”
Feltheimer previously had a deal running through May 2018.
“The new deal also includes stock options for the CEO and a ‘special bonus’ opportunity for $5 million should Lionsgate reach performance goals set by its compensation committee for the three months after the studio completes its planned acquisition of premium TV company Starz in a $4.4 billion deal,” THR adds.