A three-year contract to serve as Time Warner Cable’s next CEO has earned Robert Marcus a $16 million windfall during his first year in the new job.
According to disclosures filed with the Securities and Exchange Commission, Marcus will get an annual salary of $1.5 million — a $500,000 pay bump from his old job as chief operating officer, a $5 million annual bonus, a $2 million award just to take and keep the CEO job, and up to $7.5 million a year in unspecified long-term incentives.
Marcus isn’t taking any chances.
His employment contract also includes provisions for continued compensation for up to two years should Time Warner Cable be sold to another entity — obvious financial planning for any potential takeover attempt by John Malone, Charter Communications, or any other entity.
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