A new “employment agreement” Vince McMahon and World Wrestling Entertainment went into effect on January 1st and will run for three years until December 31, 2013. According to the official SEC Filing posted at WWE.com, McMahon’s new role in the company is as follows:
“In addition to his duties and responsibilities as Chairman and Chief Executive Officer of the Company, the Executive shall serve as the Company’s creative director, and as a writer, and performer at various times for and in the Company’s events and productions.”
The three-year deal gives McMahon generous compensation if he is terminated “other than for cause” or leaves on his own accord with “good reason.” It also includes a 1-year no compete clause in the event that his agreement is terminated.
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