Cablevision 2012 Annual Report Download - page 101

(95)
Attestation Report of the Independent Registered Public Accounting Firm
The effectiveness of the Company's internal control over financial reporting as of December 31, 2012 has
been audited by KPMG LLP, an independent registered public accounting firm, as stated in their
attestation reports appearing on pages I-1, I-2, I-3 and I-4.
Changes in Internal Control
None.
Item 9B. Other Information
On February 26, 2013, the Compensation Committee of the Company's Board of Directors approved an
amendment to James L. Dolan's employment agreement to (1) extend the scheduled expiration date to
December 31, 2017, (2) increase the annual base salary to $2 million and (3) provide for annual long-term
cash and/or equity awards with an aggregate annual target value of $12 million. The equity portion of
these annual awards will consist of options to acquire shares of the Company's Class A common stock in
an amount up to the maximum number of options that the Company may issue to any participant under its
employee stock plan during any one calendar year (currently 2 million options), and the balance (if any)
of the annual awards will consist of a cash performance award. The annual award terms and conditions
will be determined by the Compensation Committee in its discretion, provided that the awards will not
have a time vesting component that is longer than three years. In addition, the amendment provides that
in the event of a "Change of Control", Mr. Dolan will be entitled to receive the more favorable vesting
and payment provisions (if any) provided in his restricted stock, stock option and long-term cash
performance award agreements. This summary description is qualified in its entirety by reference to the
amendment to Mr. Dolan's employment agreement, which is filed as Exhibit 10.9 hereto and incorporated
herein by reference.
On February 26, 2013, Gregg G. Seibert was named Vice Chairman and Chief Financial Officer of the
Company. Also on February 26, 2013, the Compensation Committee of the Company's Board of
Directors approved the following increases in the compensation of Mr. Seibert and David G. Ellen:
(i) the base salaries of Messrs. Seibert and Ellen have been increased to $1.875 million and $1.2 million,
respectively, (ii) the target annual bonuses for Messrs. Seibert and Ellen have been increased to 200% of
base salary and 150% of base salary, respectively, and (iii) the target long-term incentive award amounts
for Messrs. Seibert and Ellen have been increased to $6 million and $3 million, respectively.