Gossip Friday: New Contract

From February 1940:

Clark Gable can declare a moratorium on worry until 1948 under the terms of his new contract with MGM–a contract that will net him $2,000,000 for seven years work!

This agreement sets a new record for the movie capital, according to Hollywood historians, in that it is the first screen contract to run for seven straight years without options. Only the fact that the law forbids it prevented its being filled out for a longer period.

The nearest thing to it is the $1,500,000 five year contract, sans options, which was signed last year by Joan Crawford.

The new agreement with Gable provides that he is to work only 40 weeks a year, with the months of October, November, December off for rest and hunting. This means 280 work weeks during the life of the contract at a salary of $7,142.85 a week.

He is to make a maximum of three pictures yearly, though the studio may elect its option to make less. However, the making of less than three pictures is only to be on account of writing or production troubles necessitating longer schedules than originally planned.