Time Warner Cable Employees To Share $416 Million Under Retention Plan

[Ron Burgundy]

Employees of Time Warner Cable will be $416 million richer even if the cable operator's merger with Comcast does not close, a move designed to keep staff from bolting while federal regulators contemplate the deal. A proxy statement, prepared for the shareholders meetings of both companies in October to vote on the merger, also lays out the nearly $81.8 million golden parachute that Time Warner Cable's chairman and chief executive, Robert D. Marcus, would receive. Comcast Corp last February said it would buy Time Warner Cable Inc in a $45.2 billion stock swap that combines the two largest U.S.

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