Entertainment giant Time Warner Inc. (TWX) on Monday said its chairman and chief executive officer Jeff Bewkes received $25.94 million in total compensation in 2011, slightly less than the $26.30 million he received in 2010.
Bewkes' base salary remained at $2 million, while his non-equity incentive plan compensation declined from the prior year.
John Martin Jr., chief financial and administrative officer, got $11.52 million, up from $10.16 million in 2010 with increases in base salary, non-equity incentive plan compensation and nonqualified deferred compensation earnings.
Martin's compensation increased due to the expanded scope of his responsibilities when he assumed the role of chief administrative officer. The company and Martin had entered into an amended and restated employment agreement, effective as of January 1, 2011.
TWX closed on Monday at $37.59, down $0.16 or 0.42 percent, on a volume of 8.13 million shares.
by RTT Staff Writer
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