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Brian Roberts Re-ups With Comcast for Four Years

Aug 5, 2005  •  Post A Comment

Comcast Chairman and CEO Brian Roberts renewed his employment contract for another four years, receiving a compensation package that will boost his annual base salary to $2.5 million from a current level of $2.2 million.

The new terms, which were described in a Securities and Exchange Commission filing Friday, keep his cash bonus arrangement unchanged at a minimum of 300 percent of his base salary, based on his meeting certain performance goals set by the cable giant’s compensation committee. Last year, Mr. Roberts received a cash bonus of $6.7 million.

What is new in the just-signed contract is Mr. Roberts’ entitlement to a deferred cash compensation credit that starts at $2 million for 2005 and increases to more than $2.4 million in 2009. Such accounts are often used by companies as an executive approaches retirement age. Mr. Roberts is 46.

The new arrangement was agreed upon Aug. 4, but is retroactive to June 1 and expires June 30, 2009.