Vince McMahon signs new employment agreement, Nick Khan pay increase

Vince McMahon is officially an employee of WWE once again.

A new WWE SEC filing shows that McMahon entered into an employment agreement on Thursday, March 29. He will continue to serve as Executive Chairman of the Board for two years, retroactive to January 9 of this year.

Under the new employment agreement, McMahon will earn $1.2 million annually, with a target bonus of 175%, and an annual stock grant, subject to performance metrics and vesting periods, valued at $4.3 million. Vince will also be eligible for a severance package if WWE terminates the agreement without “cause” or if he terminates it for “good reason.”

McMahon new deal is for two years, but the Board seat will automatically renew for one year unless either McMahon or WWE provides at least 180 days notice.

The SEC filing also shows that WWE CEO Nick Khan received a significant raise. Khan’s annual base pay is increasing from $1.35 million to $1.5 million, while his annual target bonus opportunity is increasing from 160% to 175%. Khan’s annual stock grant, which is subject to performance metrics, is increasing from $3.575 million to $5.375 million.

Today’s filing coincides with a late Thursday filing on how McMahon and Khan both received stock awards. McMahon received 51,902 units of Class A Common Stock, worth around $4.703 million. Khan received 64,877 shares of Class A Common Stock, worth around $5.879 million.

McMahon’s new employment agreement gives him full fights to his intellectual property and life story, including his name and likeness. You can read his full employment agreement at this link.