A reworked plan has just been revealed that gives more ambitious goals for the company to meet or exceed in order for Iger to receive the payouts. The board also sweetened the deal by increasing Iger’s potential payout.

Under the new terms, Iger can earn a maximum of 1.17 million shares if Disney’s stock return beats at least 75 percent of the companies in the S&P 500 Index over the four years ended December 31, 2021. As of Friday’s close, that potential payout was worth $135.4 million — a figure that may increase if the ambitious goal is actually met.

That possible haul increased 14 percent from the original contract extension agreement last year when Disney announced their deal to obtain assets from 21st Century Fox Inc., according to a regulatory filing Monday.

The board has also lessened the number of shares Iger would receive if Disney’s stock return falls below the 60th percentile of S&P 500 firms. “If the company slips into the bottom quartile, the CEO won’t see any payout at all.”

Disney said the following in an emailed statement:

The decision to implement more rigorous performance criteria reflects feedback received directly from shareholders and underscores Mr. Iger’s and the board’s confidence that the current strategic direction of the company will generate significant value for our shareholders.

Iger has doubled revenue and quadrupled Disney’s share price since taking over as CEO in 2005. Still, the goals in his amended contract are ambitious. In the four years ended Nov. 30, the company’s stock returned 33 percent, including reinvested dividends. That beats about 42 percent of firms in the index.

Other earnings opportunities remain for Iger as well. As long as he remains Disney’s CEO through 2021, he will receive 254,098 of the company’s shares. He’s also “entitled to collect a bonus and equity award — subject to performance goals — worth $45 million annually for the remainder of his tenure. That’s on top of a $3.5 million salary.”