James Dimon's employment agreement with Chicago-based Bank One Corp., disclosed for the first time on Monday, include several provisions that would allow Mr. Dimon to capitalize on appreciation to Bank One's stock price, including one that would reward him in the event of a sale.
Details of Mr. Dimon's compensation package, laden with stock-option incentives, were released in Bank One's 10-Q filing with the Securities and Exchange Commission. The former Citigroup Inc. executive will receive a base salary of $1 million a year over the next five years, according to his compensation agreement. Mr. Dimon will also receive a $2.5 million bonus this year. Beyond the salary and 2000 bonus, his future bonus could range from zero to 400% of his base salary, depending on the performance of the company.