CBS president and CEO Leslie Moonves has signed a contract extension that will keep him at the Eye through Feb. 22, 2015, the Los Angeles Times Company Town blog says.
Moonves’ re-up keeps his annual salary at the same level–$3.5 million–but continues to allow him to be eligible for performance-based bonuses, along with payouts based on how well the company’s stock performance is. In 2008 Moonves received a bonus of $9.5 million.
Says the blog, "Moonves will be 65 when his new pact expires, but since his boss, CBS Chairman Sumner Redstone, is 86, it’s unlikely that age will be a factor in whether he gets another extension."
"Moonves’ original contract was set to expire in 2011.