And, for those fans looking to maintain the 'Mad Men' mood through the long wait, Banana Republic has announced that in August it will launch a range of clothing and accessories inspired by the '60s-set drama.
He was previously committed to a further two seasons, but that's now been upped to three in exchange for a whopping pay-day -- estimated to be an eight-figure sum -- which makes him one of the highest-paid actors in a cable series.
Locking-in both Weiner and Hamm means that 'Mad Men' will run for seven seasons. Now that Hamm's deal has been inked, other key cast members are also expected to get salary raises in exchange for signing longer contracts.
The launch of Banana Republic's 'Mad Men' clothing collection was originally supposed to coincide with the Season 5 premiere in August, but the protracted contract negotiations between the studio and Weiner pushed the new season's start date back to early 2012.
However, Banana Republic execs and Janie Bryant -- the Emmy Award-winning 'Mad Men' costume designer, who is working with them on the collection -- said they did not believe the long hiatus between seasons would dampen interest in the clothes.
Jack Calhoun, President of Banana Republic, told 'The New York Times' that, "It's not that big of a deal ... 'Mad Men' continues to be relevant whether it's on the air or not."
Brand consultant and style expert Tom Julian concurred: "People know what you mean when you say 'the "Mad Men" look': A two-button, trim suit, a crisp shirt and a pocket square, the mod look of the '60s."
Bryant said she's been "getting messages on Facebook and Twitter that say, 'We're so excited about Season 5, but we're watching all the seasons before Season 5 again.'" Until the show returns, "they can get their fix with the clothing," she joked.
There will be 65 items in the capsule collection, which will carry co-branded labels bearing the 'Mad Men' and Banana Republic logos. Although the suits, dresses, ties, sweaters, hats, skirts, coats and blouses are inspired by 'Mad Men,' they are intended to reflect the sensibilities -- and size -- of contemporary shoppers.
'Mad Men' Season 5 is due to premiere in early 2012, on AMC.