Cablevision's Thomas Dolan Receiving $21 Million in Settlement to End Compensation Legal Fight
Cablevision Executive Vice President-Strategy and Development Thomas Dolan is receiving $21 million to settle litigation on compensation claims from 2005-2008, when he was on an unpaid leave of absence. In an SEC filing Friday, Cablevision said the agreement signed earlier…
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this month has Dolan's father, Charles, the company's chairman, and Thomas's brother, James, the CEO, paying Cablevision $6 million aggregate personally "in partial reimbursement of the Company's settlement payment ... if [its] pending merger with Altice N.V. is not consummated." According to the SEC filing, an independent committee of the company's board approved the settlement. Thomas Dolan, a board member, sued Cablevision in 2011, and the company was appealing an April summary judgment ruing by a New York Supreme Court judge in Thomas Dolan's favor.