Paramount Skydance confirmed that its former president Jeff Shell exited the company on April 8 and outlined in a SEC filing how much he will be leaving with.
He will be paid an amount in cash equal to the sum of his salary and target bonus. That would be about $5 million, according to his employment agreement unveiled last August when Skydance and Paramount merged. That contract set an annual base salary of $3.5 million and a $1.5 million bonus.
Par said today the salary and bonus would be payable “in substantially equal installments in accordance with the Company’s regular payroll practices during the period commencing on the Separation Date and ending on the twelve (12)-month anniversary thereof (the “Severance Period”); provided that no such payments shall be made prior to the Effective Date.”
When he started, Shell also received a one-time restricted stock grant valued at
...Keep reading this article on DEADLINE.
