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Charter CEO gets $98.5 million to stay on job until 2021

BernardaSv/iStock/Thinkstock(NEW YORK) -- Thomas Rutledge, CEO of Charter Communications, will get $98.5 million as part of a new employment agreement with the company that will keep him on for at least four more years.

Bloomberg News reports that the deal was signed in 2016.

The 63-year-old Rutledge is also the company's chairman. He received $78 million in stock options, according to a regulatory filing on Thursday, and earned $16.4 million in total pay in 2016. He will earn no compensation besides the options through 2020.

According to Bloomberg, those options would vest if the company's average share price "reaches hurdles ranging from $289.76 to $564.04 over a 60-day period." They will not vest before April 2019.

Charter completed its takeover of Time Warner Cable Inc. and Bright House Networks last year, giving them 13 million new customers in New York City and Los Angeles.

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