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Charter CEO Gets Salary Increase

Sep 30, 2008  •  Post A Comment

What financial crisis? Debt-burdened Charter Communications has agreed to an amended employment agreement that boosts the pay of CEO Neil Smit by 25%, the Associated Press reports. The agreement increases Smit’s salary from $1.2 million to $1.5 million, according to a filing with the Securities and Exchange Commission, as part of a former employment agreement struck in 2005, the news wire service says. Smit stands to receive a bonus based on his performance as well. Charter’s stock has fallen 30% in 2008 and hasn’t traded above $5 since January 2004.
—Christopher Perez

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