Jaden Smith reportedly signed a multi-million dollar contract for his first leading role in last summer’s action film ‘The Karate Kid, TMZ is reporting. After obtaining Smith’s contract from the blockbuster remake, which he signed in June 2009 when he was 10 years old, TMZ revealed that he received his initial fee in two installments. The first payment was for $900,000, and the second installment was for $100,000.

But since ‘The Karate Kid,’ which was produced by Smith’s parents Will and Jada, earned over $150 million at the domestic box office, he pulled in another $2 million as a bonus. But TMZ is also speculating that the $3 million payment is just the bare minimum; Smith also had several other in-contract perks based on the success of the film. Since the movie ranked in almost $360 million worldwide, it’s reported that Smith earned even more money.

Written by: Karen Benardello

Jaden Smith Ears Millions