Topper inks five-year employment contract
Leslie Moonves’ annual salary and target bonus will remain unchanged at $3.5 million and $12 million, respectively, in a new five-year employment contract that will keep him at CBS’ helm through June 2017.
In an SEC filing on Thursday, CBS said the figures are subject to annual review “and may be increased from time to time.”
Moonves also gets a stock option grant worth $7.5 million to vest in a year, as well as restricted stock awards granted to all members of the company’s senior management team.
CBS will pay him $4.5 million a year for up to four years to continue as a senior adviser to the company after the latest contract, announced earlier this week, expires. And he can still ink a production deal with CBS if he wants.
The dynamic and highly regarded CEO led CBS to ratings dominance since he took the top job in 2003. He joined CBS in 1995 as president of CBS Entertainment.