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- Universal Music's CEO could receive stock options worth up to $100 million under a new contract.
- Lucian Grainge's payout will depend on the group's share price hitting certain levels.
- He took a annual pay cut to $5 million in the new contract that runs to 2028.
The boss of Universal Music Group, the world's biggest music label, has been given a new contract with stock options worth up to $100 million.
Sir Lucian Grainge was given a five-year extension to his contract to continue running the company behind artists including Taylor Swift, Justin Bieber and Billie Eilish.