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AOL CEO Tim Armstrong’s Contract Extended

Tim Armstrong has signed a contract that keeps him at AOL through 2016, Citybiznews reports.

Under the contract, he’ll get a base salary of $1 million plus a bonus of 200% of his base.

That’s about the same as he received in previous years, though the new contract does provide fewer benefits (like a reduction in severance if he were to be fired and the elimination of supplemental life insurance benefits).

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