It looks like Jeffrey is going to stay at the Shrek House for at least another five years. An article in the Hollywood Reporter revealed that the CEO of DreamWorks Animation Jeffrey Katzenberg has extended his contract through 2017. Under the terms of the deal, his salary will increase from $1 million a year to $2.5 million. (Woo ha!) He will also be eligible for annual cash bonuses of $4 million. He will also be eligible for long-term equity incentives of $4.5 million. Under the new terms, if DreamWorks Animation undergoes a change of ownership, Katzenberg would receive his compensation for the rest of the existing contract or for two years, whichever is longer.
DreamWorks Animation’s COO Ann Daly also extended her contract through 2017 and upped her salary from $1.012 million to $1.5 million. She’ll also be eligible for annual cash bonuses of $750,000 in 2012, increasing to $1.5 million in 2013.