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|CHARTER COMMUNICATIONS, INC. /MO/ filed this Form 8-K on 12/23/2015|
Executive’s initial primary workplace shall be the Company’s offices in or near Denver, Colorado, except for necessary travel on the Company’s business.
5.Annual Base Salary. During the Term and beginning on the Effective Date, Executive shall receive a base salary at a rate not less than $655,080 per annum (the “Annual Base Salary”), less standard deductions, paid in accordance with the Company’s general payroll practices for executives, but no less frequently than monthly. The Annual Base Salary shall compensate Executive for any position or directorship of a subsidiary or affiliate that Executive is asked to hold in the Company or its subsidiaries or affiliates as a part of Executive’s employment responsibilities. No less frequently than annually during the Term, the Committee, on advice of the Company’s Chief Executive Officer, shall review the rate of Annual Base Salary payable to Executive, and may, in its discretion, increase the rate of Annual Base Salary payable hereunder; provided, however, that any increased rate shall thereafter be the rate of “Annual Base Salary” hereunder.
6.Bonus. Except as otherwise provided for herein, for each fiscal year or other period consistent with the Company’s then-applicable normal employment practices during which Executive is employed hereunder on the last day (the “Bonus Year”), Executive shall be eligible to receive a bonus in an amount equal to 75% of Executive’s Annual Base Salary (the “Target Bonus”) with the actual bonus payout depending on the achievement of target levels of performance for that year (the “Bonus”) pursuant to, and as set forth in, the terms of the Executive Bonus Plan as such Plan may be amended from time to time, plus such other bonus payments, if any, as shall be determined by the Committee in its sole discretion, with such Bonus and other bonuses being paid on or before March 15 of the calendar year next following the Bonus Year.
7.Additional Incentives. The Company, may, in its discretion, grant to Executive additional cash or equity-based incentives, including options, restricted shares or performance share units.
8.Benefits. Executive shall be entitled to receive such benefits and to participate in such employee group benefit plans, including life, health and disability insurance policies, and financial planning services, and other perquisites and plans as are generally provided by the Company to its senior executives of comparable level and responsibility in accordance with the plans, practices and programs of the Company, as amended from time to time; provided that, Executive shall not participate in any severance plan of the Company.
9.Expenses. The Company shall reimburse Executive for all reasonable and necessary expenses incurred by Executive in connection with the performance of Executive’s duties as an employee of the Company in accordance with the Company’s generally applicable policies and procedures. Such reimbursement is subject to the submission to the Company by Executive of appropriate documentation and/or vouchers in accordance with the customary procedures of the Company for expense reimbursement, as such procedures may be revised by the Company from time to time hereafter. In no event will an expense be reimbursed later than the last day of the calendar year following the calendar in year in which such expense is incurred.
10.Vacations. Executive shall be entitled to paid vacation in accordance with the Company’s Executive Time Off Program as in effect from time to time, provided that, in no event shall Executive be entitled to less than four weeks vacation per calendar year. A copy of the current Vacation Policy - Supplement for SVPs and above has been provided to Executive. Executive shall also be entitled to paid holidays and personal days in accordance with the Company’s Executive Time Off Program as in effect from time to time.
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