World Wrestling Entertainment Chairman Vince McMahon has inked a new two-year employment contract with the company, according to a securities filing.
McMahon and the WWE finalized the terms that include a $1.2 million annual base salary and potentially seven-figure bonuses and stock awards, as well as a number of benefits.
“McMahon agrees to render such services to WWE on a full-time basis as are consistent with the position of executive chairman of the board pursuant to the terms and conditions hereinafter set forth,” the agreement says, in part.
“McMahon shall, at all times, faithfully, industriously and to the best of his ability, experience and talent, perform the duties associated with this position, and he shall devote all of his working time and efforts to the performance of such duties. McMahon shall, at all times, also be subject to and comply with the policies and procedures generally applicable to WWE’s senior executives to the extent the same are not inconsistent with any term of this agreement.”
Vince McMahon retired from the WWE on July 22, 2022 amid a WWE board investigation into allegations of sexual misconduct and hush money. However, he would later return to the company, with WWE announcing that McMahon had been unanimously voted the Executive Chairman of the Board on January 10, 2023. McMahon returned to WWE’s board to help with the sale negotiations.
