DreamWorks Animation SKG (NYSE:DWA) chief executive Jeffrey Katzenberg was paid just $1 in salary in 2007 after waiving millions of dollars in equity awards, the company said in a securities filing.

Katzenberg gave up annual stock awards for 2006, 2007 and 2008 that would have been worth $5 million a year as a way to accommodate the salary and equity-based compensation of company president and chief financial officer Lew Coleman, who was hired in 2005.

Katzenberg also waived equity awards based on performance that would have been worth $1 million to $3 million a year.

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