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More details of The Rock's WWE contract revealed

Chris

Dreams are Endless


Dwayne Johnson's WWE talent contract was published as an exhibit to WWE's annual report filed back in February. Parts of it are redacted and the contract has several schedules that are omitted because that information is the type that TKO "treats as private or confidential". The contract includes a carve-out allowing Johnson, with WWE's approval, to hire "third party service providers in connection with developing concepts, scripts, storylines". WWE will reimburse 7 Bucks for the costs of any such service providers. WWE agreed as part of the contract to engage one such person whose name is redacted. As previously disclosed, Johnson gets a total of $30M in TKO equity transferred to him periodically as part of the deal. It would be interesting to know if Johnson's entire compensation is guaranteed in the (unlikely) event he's terminated, which might be clarified in any of the schedules not included in the filing. If so, I believe that would make it unlike most if not all WWE talent contracts which do give talent a minimum guarantee ("downside"), but can be terminated by the company at any time with a period of notice such as 90 days. The contract also spells out that Rock's IP, name, and likeness cannot be used by WWE for certain products such as pop-up ads, political ads; or alcohol, tobacco, marijuana, pornography, medical products. Unless of course Johnson gives his written approval. https://sec.gov/Archives/edgar
 
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