Over the weekend and after many heated discussions, the 40-year-old director just inked two deals that are very likely to make him one of the best paid filmmakers in history. After the success of 'M.I III', Paramount basically offered him the world on a plate and signed him on for the next five years.

J.J. also signed a six-year contract with Warner Bros. for a variety of television series. Although no financial details have been revealed to the press, both deals are estimated at around $55 million.

'An opportunity presented itself, and we went for it. J.J. is such a unique and extraordinary talent, someone who've I admired from a distance for years', said Peter Roth, president of Warner Bros. Television about the man he just snatched from Walt Disney Co.'s Touchstone Television.

The deal with Warner is said to bring Abrams at least $4 million a year for the duration of the contract and an average of about $2 million for his Bad Robot production label. Also, both from Warner and Paramount, J.J. is also to get a minimum of 35% of revenues from DVD sales and Internet downloads.