Carnival Corp. Extends Arnold Donald’s Contract for Additional Year

Carnival Corporation recently confirmed it had extended President and CEO Arnold Donald’s employment agreement for an additional year, according to an SEC filing.

Donald joined the company in October 2013 on a three-year contract, which was recently extended for an additional year, until October 2017.

The filing stated : “The Amendment extends the term of the Agreement one year, commencing on the Effective Date, subject to automatic annual renewals. In addition, pursuant to the terms of the Amendment, going forward Mr. Donald’s long-term incentive awards shall be determined by the Boards of Directors in their discretion, consistent with the terms of the Carnival Corporation 2011 Stock Plan. These terms replace certain detailed compensatory provisions in the Agreement. No other material changes were made to the Agreement.”

Donald took home $9,373,908 in 2015.

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