Vince's new WWE contract details

- Vince McMahon has signed a new three-year contract with WWE as their Chairman and CEO. Vince also has the titles of Creative Director, writer and performer. Vince's new deal gives him a base salary of $1.1 million per year and incentive bonuses based on WWE reaching a certain level of profitability. Vince gets an annual bonus of $1.1 million if the company reaches profit goals.

Vince also receives four weeks of paid vacation per year and is allowed to use the company plane for personal travel with family members and any guests, unless the plane has a business matter it has to be used for.

Vince's contract says that if he is terminated, which obviously won't be happening, he receives a cash amount equal to double his base annual salary within 30 days. Vince would also receive two years worth of profit bonuses and would remain on the company benefits plan for two years after his termination.

If terminated, Vince would retain intellectual property rights to Vince McMahon and Mr. McMahon. Vince cannot compete against WWE or its affiliates while under contract or for up to one year after being terminated.

Vince's new contract is effective as of January 1st, 2011. Besides the three years, it also has additional year extensions available.

not to shabby, imagine the negotiations:

VKM: These are the terms i want.
VKM: Deal

So let me get this straight, Vince Mcmahon has signed a contract which allows him to use his own company jet and also to work for himself in his own company for the next 3 years after which he can leave his own company, but if Vince Mcmahon fires himself then he gets double his based salary and retains the rights to Mr Mcmahon and Vince Mcmahon but he can't compete against his own company for over a year.

IS THIS FOR REAL?

Got to be a piss take.

feяgie22 wrote:

Got to be a piss take.

Deffinately a piss take as he even has a no compete clause if he breaks his contract (yes because i'm sure Vince Mcmahon wants to join TNA and put himself out of business, LOL!!).

As a public company it would be the board who employed vince rather than he himself. Obviously the fact that he was head of the board probably helped.

Don't forget any dividends on his share holdings as well during his contract.

Does anyone know how much of WWE VKM plus family own at the moment?

therustman wrote:

Does anyone know how much of WWE VKM plus family own at the moment?

a shit load??

On wiki (i know) all it says is he's the majority shareholder with an 88% voting power,what ever the fuck that means.

So dont know if that means he owns 88% of the company or whatever

His stock shit

- Vince McMahon's 4.5 million shares of WWE stocks is worth about $720,450,000.

- Shane McMahon currently still owns 675,249 shares of WWE stock (worth $10.8 million), and has another 631,761 shares (worth $10.1 million) earmarked toward him in a 2004 trust set up by Vince McMahon.

- Speaking of WWE stocks, they closed the day trading at $16.28 a share.

That's a shit load of coinage!

therustman wrote:

Does anyone know how much of WWE VKM plus family own at the moment?

off wikipedia so may not be entirely reliable but

Quote :

the McMahons hold approximately 70% of WWE's economic interest and 96% of the voting power in the company.

Wikipedia is class.

We both go there and come away with different numbers

feяgie22 wrote:

Wikipedia is class.

We both go there and come away with different numbers

thats the best quote

surely this is just the legal paperwork you need and so the US can tax his wages.

the rest just seems like a bit of an "inside" joke incase he wants to leave or gets fired by donald trump or something