Vince McMahon officially works for WWE again.
The former WWE CEO retired on July 22 amid a WWE board investigation into allegations of sexual misconduct and hush money. He returned to the company on January 6, and he was voted the Executive Chairman of the Board on January 10. McMahon is also the majority shareholder of WWE.
In an update to McMahon’s return, a new SEC filing states that McMahon has entered into an employment agreement with WWE, which is effective as of March 29. The filing also notes that the agreement is retroactive to January 10, the day he was voted Executive Chairman.
Additionally, the filing also states that McMahon and WWE reached an agreement that gives the former CEO ownership of his name and his likeness.
McMahon’s tenure as Executive Chairman is set to last for a two-year period. In the filing, it is noted that McMahon can be terminated with a “change in control.”
The filing is available here.
Source:
Colin Tessier
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