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Huge Payday in Store for Cable Executive Who Recently Jumped Ship

Dec 28, 2011  •  Post A Comment

Cable executive Tom Rutledge, who jumped from Cablevision to become the chief executive of Charter Communications, could earn more than $90 million over the next four years, reports B&C.

Rutledge, who takes the Charter job starting Feb. 12, has agreed to a four-year deal that gives him an annual base salary of $2 million, along with an annual bonus that could be worth $3.5 million per year and stock options, restricted shares and stock awards that would total about 1.26 million shares, the story says, citing documents filed with the Securities and Exchange Commission.

Those stock awards are valued at $70.7 million, based on Charter’s closing stock price on Dec. 27, the story points out.

Rutledge is already a Charter employee, drawing up to $8,000 in compensation per week, even though he doesn’t gain a formal title until February, the story notes, citing the filing.

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