Moreboards are tying top executives’ pay to performance. CBS Corp. Chief ExecutiveLeslie 
Moonves, who earlier this year was under pressure from CBS Vice ChairmanShari Redstone to restructure his compensation, will accept a lower cash salaryand more equity in a new employment contract, The Wall Street Journal reportsthis morning. (subscription required.)
CBSExecutive Chairman Sumner Redstone earlier this year said he believed in thepay- for-performance model and altered his compensation package to align itmore closely with CBS’s stock.
InSeptember of last year, when appointing a new management team to succeed TomFreston as CEO at Viacom, he took similar actions both for himself and otherexecutives. (Viacom and CBS, previously one company, divided in two at thestart of last year).
Redstone’smoves followed a shareholder lawsuit filed against Viacom in 2005, allegingthat Redstone, Freston and Moonves were being overpaid. The three had earnednearly $160 million in compensation between them in 2004, a year the companyreported an $18 billion loss.