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Cablevision Systems Extends Contracts For James L. Dolan, Tom Rutledge and Hank Ratner

By Amarendra Bhushan for CEOWORLD Magazine Updated:December 26, 2009

The top executive of Cablevision Systems Corp. (CVC, News, Press Releases: 24.00 0.00 0.00%, yield: 1.67, cap: 7.248B, 1yr target: 27.18) reached new employment agreements after the company spins off its Madison Square Garden operations in next year’s first quarter for the next five years.

The new contract for Cablevision Chief Executive James Dolan, whose family is the company’s controlling shareholder, entitles him to a minimum base salary of $1.5 million a year and a yearly target bonus of up to four times his base salary, Cablevision disclosed Thursday in a Securities and Exchange Commission filing.

After the MSG spin-off, Dolan will be executive chairman of MSG and “will devote a portion of his business time to that role.” The new MSG agreement provides for Dolan’s employment through Dec. 31, 2014, at a minimum annual base salary of $500,000 plus an annual target bonus of up to $2 million. From MSG, Dolan will be entitled to receive one or more long-term cash and/or equity awards with an aggregate target value of $1.75 million in 2010, with similar awards in following years.

James Dolan
President & Chief Executive Officer
Chairman, MSG

As chief executive of Cablevision Systems Corporation, James L. Dolan oversees the company’s extensive telecommunications and entertainment businesses. Under his direction, Cablevision is one of the nation’s largest operators of cable television systems, developing and delivering the benefits of broadband and digital communications to its customers.

Tom Rutledge
Chief Operating Officer
Cablevision Systems Corporation

As chief operating officer of Cablevision Systems Corporation, Tom Rutledge is responsible for overseeing the company’s cable television business; Rainbow Media, the company’s national programming business, which includes the AMC, IFC, Sundance Channel and WE tv networks; Optimum Lightpath, the company’s fiber optic business telecommunications service; Clearview Cinemas; and certain Cablevision corporate functions. Mr. Rutledge also oversees News 12 Networks, Rainbow Advertising Sales Corporation (RASCO) and Newsday, one of the nation’s largest daily newspapers, serving the New York area.

Hank J. Ratner
Vice Chairman, Cablevision Systems Corporation, Vice Chairman, Madison Square Garden

Hank J. Ratner is vice chairman of Cablevision Systems Corporation, one of the nation’s leading entertainment, media and telecommunications companies. He also serves as vice chairman of Cablevision’s Madison Square Garden unit, which includes renowned performance venues, entertainment properties, professional sports teams and television networks.

A long-time Cablevision executive, Mr. Ratner helps to set corporate direction and strategy, and is the primary executive overseeing major business partnerships and transactions. He works closely with Cablevision Chief Executive Officer and MSG Chairman James L. Dolan on the overall advancement of the corporation as well as the day-to-day operations of MSG and its business units. On behalf of the New York Knicks and Rangers, Mr. Ratner serves as alternate governor to the National Basketball Association and the National Hockey League.

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