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. Last Updated: 07/27/2016

Whopping Contract

LOS ANGELES -- Walt Disney Co. has extended Michael Eisner's contract as chairman and chief executive for 10 years and granted him 8 million stock options it valued at $195 million.

Eisner also has stock options which Disney valued at $303 million as of Sept. 30, 1996, when the new contract took effect. The company valued additional options not yet exercisable by Eisner at $61 million. The disclosures, made Thursday in Disney's proxy for its annual meeting next month, could stir up more questions about whether the company's executive compensation is excessive.