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Lionsgate and CEO Jon Feltheimer has extended his long-term employment agreement, keeping him at the Hollywood studio potentially to August 2025.
On Wednesday, Lionsgate in an SEC filing said his contract will now run to Aug. 21 2023 and could, at the discretion of the studio’s boardroom, be extended another year to August 21, 2024 or another two years to August 21, 2025.
It’s understood Lionsgate wants to keep its options open to keeping Feltheimer with the studio until 2025, when he will have been with the studio for 25 years.
Despite small revisions, Lionsgate in its SEC filing said the new contract has the same compensation and other terms of employment as the prior employment agreement that was struck in 2016.
Feltheimer saw his overall fiscal 2020 compensation rise to more than $11 million, up from a year-earlier pay package valued at $6.6 million. Feltheimer’s 2020 compensation included a $1.5 million base salary, a $6.3 million bonus, and more than $1.5 million each in stock awards and option awards.
The extension for Feltheimer’s contract also follows strong digital subscriber growth for the Starz streaming platform as it expands internationally.
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