LOS ANGELES (CelebrityAccess MediaWire) — Live Nation CEO Michael Rapino has re-upped his employment contract with the company, agreeing to continue to serve as President/CEO until 2017.
The new agreement will see Rapino's base salary increased to $2.3 million a year, starting on Jan. 1st, 2013, though it will eliminate a guaranteed minimum 100,000 annual salary increase from his previous employment agreement.
In addition, Rapino was granted options to purchase 3.6 million shares of Live Nation common stock at an exercise price of $8.77 per share.
In 2011, Rapino received a total of $11.9 million in compensation from Live Nation, including his base salary of $2 million. $2.4 million in stock options and $2.7 million in awarded stock. – CelebrityAccess Staff Writers