CBS has announced that they have torn up President/CEO Leslie Moonves' contract and given him a new one.
His new deal supersedes his prior contract, which was to conclude in 2017, and extends his term with CBS through June 2019.
Under the terms of the agreement, Moonves’ salary remains at its current level (which is something like a gazillion dollars), and he will continue to be eligible for an annual performance-based bonus (which most often is another gazillion).
At the end of his new term, Moonves will become an executive adviser to the company for an additional five years, and will have the option to establish a production company under CBS’s auspices.
Must be nice.