Less but more for Les, out at CBS in 2011?

Guess our advice to give Les Moonves dual rule over both Viacom and CBS went over the heads of board members. Moonves's new contract to extend his rule over CBS will pay him based on results at the company and his base salary will be a little less. But the contract only adds two years to Moonves's stint which will end in 2011, yeah right around the corner. Wonder if at that time Moonves will move on to another media company or is there a Moonves, Dauman power sharing plan over both CBS and Viacom in the works. Will Sumner Redstone even be around? Oh man we have so many questions. The new contract, which extends Mr. Moonves’s employment by two years to 2011, lowers his base salary to $3.5 million from $5.9 million, but stipulates that he will also receive a large one-time stock option grant to purchase five million shares, as well as a large grant over four years of restricted shares worth $7.6 million a year. Mr. Moonves is also eligible for a performance-based bonus. New Contract for Moonves Links Pay to CBS’s Results [NYT]