Bewkes' compensation up to nearly $20 mil

2008 total includes $7.6 mil incentive for Time Warner chief

Time Warner chairman and CEO Jeffrey Bewkes' total compensation climbed slightly in 2008, according to a regulatory filing Wednesday.

TW's compensation package for Bewkes amounted to about $19.85 million overall. The figure includes a base salary of $1.75 million, stock awards of $2.1 million, option awards of $8.1 million and incentive compensation of $7.6 million.

A year earlier, when he was president of the conglomerate, Bewkes received $19.6 million in total compensation.

Richard Parsons, who served as TW's chairman until the end of 2008, received a $10.4 million compensation package last year, according to the regulatory filing.

In the filing, the so-called proxy statement, TW said it will hold its annual shareholder meeting May 28 at its Manhattan headquarters, the Time Warner Center.

Among shareholder proposals to be voted on in the meeting is one that would give shareholders the opportunity at each annual meeting to vote in a nonbinding way on the compensation of certain TW officers.