Discovery Communications chief financial officer Andrew Warren has signed a four-year employment deal with the programmer that will give him an annual salary of $1.175 million, according to documents filed with the Securities and Exchange Commission.
According to the documents, the agreement was effective on Sept. 1 and expires on Sept. 1, 2018.
Warren signed on as Discovery CFO in March, after then-CFO Brad Singer announced his intention to step down.
Prior to joining Discovery, the home of such iconic programming as Shark Week, Deadliest Catch and Naked And Afraid -- Warren had been CFO at apparel company Liz Claiborne since 2007. Prior to Liz Claiborne Warren spent 18 years at General Electric and had been EVP and CFO at NBC Universal Television Group, responsible for all finance activities of NBC Network, Studios, CNBNC, MSNBC, USA, SciFi and Bravo.
According to the SEC documents, Warren will receive an annual base salary of $1.175 million and is eligible for an annual incentive of up to 120% of his base salary, with his target for fiscal 2014 being blended based on eight months at his previous bonus target of 100% and four months at the new target of 120%. Warren also will receive performance-based restricted stock units valued at $2 million within 60 days of the execution of the employment agreement. The PSUs will vest 50% on Sept.1, 2017 and 50% on Sept. 1, 2018.
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