Disney CEO Bob Iger could take home $60-million bonus

Walt Disney Co. Chairman and Chief Executive Robert Iger, who inked a two-year contract extension on Thursday, could depart the company in 2018 with a bonus of up to $60 million.
According to a filing with the Securities and Exchange Commission, the performance-based retention bonus is tied to Disney meeting certain operating income targets.

Caption 2013's highest paid media executives

Rajesh Nirgude; Justin Sullivan/Getty Images; AP Photo/CBS / Monty Brinton

For top media moguls, base salaries are high. Bonuses, stock options and stock awards are higher. See how a group of elite executives fared in 2013. By Christy Khoshaba

Caption Chase Carey | $27 million

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Carey, chief operating officer of News Corp., received a compensation package of $27 million, a 9% increase from the previous year. Carey was lauded for his handling of the media company's breakup and spinoff of the publishing properties.

Caption Rupert Murdoch | $28.9 million

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Murdoch, chief executive of 21st Century Fox, received a compensation package of $28.9 million. On top of an $8.1-million base salary, he received a performance-based cash bonus of $12.5 million and stock awards valued at $5.1 million.

Caption Tom Dooley | $29 million

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Dooley, chief operating officer of Viacom Inc., received a compensation package of $29 million. In addition to a base salary of $2.5 million, Dooley collected a $13.4-million cash bonus and $8.3 million in stock.

Caption Steve Burke | $31.1 million

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Burke, chief executive of NBC Universal, which is wholly owned by Comcast Corp., received a compensation package of $31.1 million. That's an 18% increase from the $26.3 million he made in 2012.

Iger's bonus would be triggered if the company were to generate cumulative operating income of more than $76.010 billion over the five-year period ending Sept. 29, 2018. The bonus escalates linearly.
The bonus maxes out at $60 million, which Iger would receive if the company generates cumulative operating income of more than $78.314 billion over the stretch.
The bonus is by no means guaranteed. For Iger to receive it, Disney's operating income would have to increase dramatically. For the five-year period from 2009 to 2013, the company generated cumulative operating income of $43.771 billion.

However, the company's annual operating income has However, the company's annual operating income has increased considerably in recent years. In 2013, Disney's operating income was $10.724 billion, up 8% from a year earlier when it was $9.964 billion. It increased by 13% from 2011 to 2012. 
Save for the prospective bonus, Iger will continue to receive the same annual compensation as under his previous contract. A large portion of his pay is tied to Disney's financial performance. For the fiscal year that ended Sept. 28, 2013, Iger's base salary was $2.5 million, but his total compensation was $34.3 million.

Disney gives CEO Robert Iger a two-year contract extension

Iger has been chief executive of Burbank-based Disney, the world's largest entertainment company, since 2005. Iger’s new contract runs through June 2018, and he is expected to leave Disney at that time. 
Before signing the contract extension, he'd been set to vacate his post at the end of June 2016.He told The Times on Thursday it has been a "privilege" to run Disney and said he relished "having more time to do that."