Vince McMahon Extends Contract With WWE

WWE Chairmain and CEO Vince McMahon has signed a new contract with WWE. The employment contract is effective for three years from January 1st, 2011, with additional year extensions unless he or the company decide not to extend.

Vince will serve in his current roles as Chairman and CEO, as well as Creative Director, writer and performer. He'll get a yearly salary of $1,100,000 and will be entitled to receive an annual bonus target of 100% of base salary depending on performance.

Vince will also have access to the company aircraft for personal time if it's not in business use at the time, along with immediate family members, and gets four weeks paid vacation.

Vince also has a one-year no-compete clause.