Les Moonves has to work even harder now to make sure Grandpa Sumner's pay is up to par

CBS said that it will now pay it's grandpa Sumner Redstone based on the stock price. Its not like Sumner needs the money anyway. Now poor Les Mooves has to make sure the stock sits pretty at all times. Under the new agreement, Redstone's annual salary will be reduced to $1 million from $1.75 million and his current $1.3 million per year deferred compensation will be eliminated. Moreover, his annual target cash bonus under the CBS short-term incentive plan will be cut to $3.5 million per year from $6.1 million. CBS links pay package of Redstone to stock price [Reuters]