Disney’s Iger signs new deal

Walt Disney Co. said Friday that it had signed Chief Executive Robert Iger to a five-year contract that would pay him an annual salary of $2 million plus bonuses and stock awards that could be worth millions more.

Under terms of the deal, Iger could receive an annual incentive bonus of $10 million or more, along with an annual equity award valued at $9 million or more, if Disney meets certain performance goals, according to a document filed with the Securities and Exchange Commission.

The deal also calls for Iger to receive a stock option grant for the purchase of 3 million shares of Disney common stock at the exercise price of $29.50 a share. In addition, the compensation package includes perks and benefits in line with other Disney senior executives, according to the filing.

Iger’s previous contract was set to expire Sept. 30, 2010. His new contract runs through Jan. 31, 2013.

Iger received a compensation package in fiscal 2007 valued by Burbank-based Disney at $27.7 million, according to an analysis of documents by the Associated Press.

Disney shares rose 82 cents, or 2.7%, to $30.66 on Friday.