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BRIEF-Walt Disney extends Robert Iger's employment term as chairman, CEO to July 2, 2019
March 23, 2017 / 3:23 PM / in 4 months

BRIEF-Walt Disney extends Robert Iger's employment term as chairman, CEO to July 2, 2019

2 Min Read

March 23 (Reuters) - Walt Disney Co :

* Robert Iger would remain employed with company and serve as chairman and chief executive officer from June 30, 2018 to July 2, 2019

* If Iger remains in employment until July 2, 2019, he will get cash bonus of $5 million in addition to award for fiscal 2019

* Amendment provides that Iger’s annual compensation for extended employment period to be determined on same basis as fiscal 2016 - SEC filing

* Says following termination of his employment at expiration date, Iger will serve as consultant for three years following expiration date

* CEO Iger's annual salary remains unchanged

* In consideration of consulting services, Iger will receive quarterly fee of $500,000 for each first 8 quarters during consulting period

* In consideration of consulting services, Iger will receive quarterly fee of $250,000 for each of last four quarters of consulting period

* Terms of equity grants made to Iger for fiscal 2019 to be on same terms & conditions as would have applied to grants made in fiscal 2018 Source text - bit.ly/2mwc3Jn Further company coverage:

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