Frank Riddick III was named the new WWE Chief Financial and Administrative Officer today, and his salary has now been revealed.
Riddick replaces Kristina Salen in the role, who was reportedly not well-liked within the company.
In a new report sent to investors, WWE stated that Riddick’s base salary will be $850,000 per year, payable bi-weekly.
He is also entitled to receive a $1,000,000 sign-on bonus, which will be paid in full on his first payroll date.
However, if he decides to leave the company in the first year without “good reason”, he would have to reimburse WWE the full sign-on bonus.
There are also percentage reimbursements that he would have to make if he decides to leave, or if WWE terminates his deal, within two and three years as well.
If he does ever end up owing WWE any of these reimbursements, he’d have to pay it within 10 days of his contract ending.
Riddick will be relocating from South Carolina so he can be based at the company’s headquarters in Stamford, CT, and WWE will provide him with the following:
- Up to 12 months of temporary housing and rental of a vehicle to be arranged for by WWE or Riddick (however, if arranged for by Riddick the cost must be pre-approved by WWE), and paid directly to the provider by WWE
- Reimbursement for costs of shipment of household goods from South Carolina to New York or Connecticut upon relocation.
The full report with all the details can be found at this link.
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