Paramount Sets Change-in-Control Pay Plan for Top Executives

Paramount Global, parent of the CBS and Nickelodeon television networks, adopted a severance plan for its top executives in the event they are terminated within two years of an acquisition of the company.

The change-in-control plan put in place by the company’s compensation committee applies to Chief Executive Officer Robert Bakish, finance chief Naveen Chopra and other officials, according to a filing Friday.