Although Aerin Lauder has scaled back on her duties at Estée Lauder to focus on developing her own eponymous luxury brand, Aerin LLC, she will still receive a very generous base "retainer" salary of $700,000 a year from the company. Under her new contract, Estée Lauder retains the rights to use Aerin's name and image to sell beauty products, and Aerin will continue to act as a consultant and spokeswoman for them. This means she must spend at least 35 days per year making personal appearances on behalf of the Estée Lauder brand; for each additional day beyond the requisite 35, she will be paid an extra $20,000 (so, still less than Snooki, sort of). Presumably, she will also get a lot of free lotions and makeup and other beauty loot, which to us seems like a fabulous perk but to folks making $20K per day might be less exciting.
Aerin has also granted Estée Lauder exclusive licensing rights to all the beauty and fragrance products she plans to develop under her own brand; she'll get royalties from the sales. Then she'll start making even more money next spring, when her merchandise, which will also include sunglasses and home accessories, is scheduled to hit stores.