Trump's Casino Pay Topped $2M. in 2005
ATLANTIC CITY As reported by the Press of Atlantic City: "Donald Trump was paid nearly $2.3 million and his top two casino executives each received about $2 million in bonuses and stock awards in 2005, the same year the gaming company struggled in bankruptcy court, according to a securities filing.
"Trump, chairman of Trump Entertainment Resorts Inc., earned $974,464 in salary and nearly $1.3 million from a 'services agreement' that requires him to make no more than six personal appearances a year to promote the company's three Atlantic City casinos. The services agreement pays Trump $2 million annually, but he did not receive the full amount in 2005 because the contract took effect later in the year.
"Trump's salary of $974,464 represented a significant cut in base pay from the $1.5 million he received in 2004 and 2003 when he held the titles of company chairman and chief executive officer. He received no bonuses in 2005, the company disclosed in a federal Securities and Exchange Commission filing last week.
"Trump relinquished the CEO position to James B. Perry after the company emerged from Chapter 11 bankruptcy protection last May..."
2006-03-30
