CBS Signs Extension with Chief Exec Moonves
By: Reuters
CBS Corp. said it has signed a new employment contract with Chief Executive Leslie Moonves that extends his term to 2011.
Moonves will now earn $3.5 million per year, compared with his previous salary of $5.9 million, which included $2.9 million in deferred compensation.
He will also be eligible for a performance-based bonus and receive "significant" equity-based compensation tying the value to the company's performance.
CBS Corp. said it has signed a new employment contract with Chief Executive Leslie Moonves that extends his term to 2011.