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Paramount Global Sets $1 Million Payouts To HR & Government Affairs Heads When Skydance Deal Closes
More cash is set to flow at Paramount Global as the will give two top executives $1 million when its sale to Skydance closes as part of a “transaction award program.”
Paramount and SkydanceGetty Images More cash is set to flow for Paramount Global executives as the company said two will each receive bonuses of $1 million when the company’s sale to Skydance closes as part of a “transaction award program.” Doretha Lea, EVP, Global Public Policy and Government Relations, and Nancy Phillips, EVP, Chief People Officer are eligible for the payouts, which are contingent on the deal closing to “ensure the successful operation of the Company during the period prior to the completion of the Transactions and to promote the retention of certain key employees through the closing date,” Paramount said in an SEC filing this afternoon. The trio’s compensation was sweetened in June to reflect their new roles, including an increase in their target annual cash bonuses under the company’s short-term incentive plan by an additional 100% of their annual base salaries.
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