Eisner Highest Paid Disney Employee in '05
LOS ANGELES (AP) -- Michael Eisner, former chief executive of The Walt Disney Co., received $10.1 million in compensation last year, including a $9.1 million cash bonus, according to the company's annual proxy statement filed Wednesday.
Eisner left the company on Oct. 1 after serving as CEO for 21 years. He was succeeded by Robert Iger, who serves as president and CEO.
Iger received total compensation of $9.7 million in 2005, including a cash bonus of $7.7 million.
Eisner was also paid an additional $1 million salary, the salary he would have received if had served through the end of his contract, which would have expired this October. He will also continue to receive an annual bonus of $7.5 million through 2008, in accordance with the terms of his employment agreement, the filing said.
The bonus, payable for 24 months after his contract would have ended, will only be paid for 12 months if Eisner takes a job "with another major entertainment company other than as an independent producer within twelve months after the conclusion of his employment."
Eisner recently was hired to host a talk show on the cable channel CNBC.
Eisner also began drawing an annual pension of $297,779 from Disney, plus an additional pension of $579 per year from his 10 years working for ABC.