In 1965 Elvis sold 40 percent fewer records than he did in 1960, but even so, the Colonel was able once again to renegotiate Elvis' RCA contract on substantially improved terms. The new agreement added one additional year, thus extending the contract through 1972 with a two-year option. The guaranteed annual non-refundable payment against the regular 5 percent royalty was raised from $200,000 to $300,000 with 75 percent going to Elvis and 25 percent to the Colonel. In addition, Elvis and the Colonel received non-recoupable bonuses of $150,000 a piece and an additional $25,000 each in January of 1966. The already existing extra royalties (2 percent domestic, 1 percent foreign) continued to be split equally between Elvis and the Colonel. Finally, the Colonel's annual payment for photographs and consulting increased from $27,000 to $30,000.