Time Warner Cable employees could get bonuses after merger ends

The demise of the Time Warner Cable-Comcast merger on Friday could mean more than 15,000 Time Warner Cable employees are in line for bonuses.

As part of the merger, Time Warner awarded a “supplemental bonus opportunity” to all employees, including executive officers, who participate in the company’s regular cash bonus plan, according to a securities filing.

Depending on performance, the supplemental bonuses will be paid “upon the completion of the merger or any termination of the merger agreement,” according to the filing.

The bonuses were designed to retain employees while the deal was pending and keep them focused on the company’s operating plans, the filing states.

The extra bonus could increase the regular payout for eligible employees by up to 50 percent. So an employee with a bonus of $10,000 under the regular plan could get an extra $5,000, according to the filing.

Under the merger agreement, Time Warner is allowed to pay out a total of $100 million in supplemental bonuses.

Time Warner’s compensation committee will determine the supplemental payouts based on company performance, according to the filing. A Time Warner spokesman declined to comment.

As of December, Time Warner had around 54,800 total employees. About 3,100 are in the Charlotte area.

For Time Warner CEO Rob Marcus, the merger’s collapse was a huge hit to his wallet: He was to receive an $81 million exit package if the deal went through and he then departed. Marcus, however, could still be in line for a supplemental bonus of $2.5 million, the filing indicates.

This story was originally published April 24, 2015 at 12:41 PM with the headline "Time Warner Cable employees could get bonuses after merger ends."