CBS Corp. topper's 2010 paycheck included $27.5 mil in cash bonuses
CBS Corp. boss Leslie Moonves got a big pay bump last year for a total 2010 compensation package worth more than $57.7 million, according to a Securities and Exchange Commission filing.
Moonves pocketed about $31 million in cash compensation for last year, and pulled in $26 million and change in future stock options and equity awards. His 2010 haul is a sizable increase from 2009, when he pulled in a total package of $43.2 million, and twice as much as his 2008 take of $21.1 million. The biggest component of Moonves’ cash bounty came from a $20 million bonus payment “for the successes in his role as president and chief executive officer,” according to the filing. On top of his base salary of $3.5 million, he drew another special cash payment of $7.5 million “for his leadership in connection with the creation of premium content across the company’s portfolio of businesses, particularly with respect to the CBS Television Network, which outperformed its media peers in 2010.”
Moonves wasn’t the only one getting a pay hike. CBS Corp. chairman Sumner Redstone saw his total compensation climb to $20.2 million from $16.2 million in 2009. But Moonves isn’t the highest-paid CEO in Redstone’s orbit. Viacom ‘s Philippe Dauman pulled in a total of $84.5 million in cash and equity compensation last year.