Imax Entertainment Gives CEO Greg Foster an Additional Three Years
The executive's previous contract expired two months ago.
Imax Entertainment will retain the services of CEO Greg Foster for an additional three years, the parent company said Thursday in a regulatory filing. He also will retain his title of senior executive vp at Imax Corp.
Foster has been CEO at Imax Entertainment for three years and his previous contract expired two months ago.
Under the terms of the new contract, he will get a base salary of $1 million in the first year. He will get an extra $50,000 in the second year and another $50,000 raise the year after that. He also will be eligible for a bonus of 100 percent of his salary.
Foster also gets granted restricted share units valued at $1.6 million and stock options valued at $1 million, and next year he will get RSUs valued at $787,500 plus another $1 million in options, and the year after that he will get the same.
In the most recent year, Foster made $4.5 million as CEO of Imax, a company he joined 15 years ago. Previous to Imax, Foster was executive vp production at MGM/UA.