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Carnival extends Arnold Donald's contract another year

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Arnold Donald's new employment agreement includes automatic annual renewals
Carnival Corp. & plc extended chief executive Arnold Donald's employment agreement by a year. His new contract is subject to automatic annual renewals.

Donald previously had a three-year employment agreement that took effect in October 2013. It set an annual base salary of $1m, subject to increase or decrease based on the company's standard salary review cycles.

In addition, according to a filing, Donald’s long-term incentive awards going forward will be determined at the discretion of the boards of directors, consistent with the terms of Carnival Corp.'s 2011 stock plan.