New Paramount CEO David Ellison and president Jeff Shell will be eligible for salaries of no less than $3.5 million and an annual target bonus of $1.5 million, according to a new 8-K filing with the U.

Paramount has set the base salaries for its new C-suite on the heels of Skydance closing its $8 billion acquisition of the media giant.

The executives who will lead the entertainment company will receive salaries of $3.5 million, as well as annual bonuses and stock.