SFGate reports that Dreamworks Animation CEO Jeffrey Katzenberg made $1 last year as his salary.

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.

Even though Katzenberg waived his salary and other various forms of compensation, he could be eligible for stock options that will be vested in Oct. 2009. These were worth 15.8 million dollars on Dec. 31st of last year.