• by David Goetzl , August 2, 2011

Time Warner Cable has extended the contract of Glenn Britt that is expected to keep him as CEO through at least the end of 2013. Britt's current deal was scheduled to lapse at the end of next year.

The new deal includes provisions for "long-term incentive compensation," where the target is a combined $17 million for 2012 and 2013, according to a filing with the SEC.

Britt's contract calls for a minimum $1.25 million base salary, plus bonus. Forbes lists his 2010 compensation at more than $17 million. He has been in the chief executive role since 2001.

Also, Irene Esteves has reached a three-year deal for her new role as Time Warner Cable CFO. Running through mid-2014, the agreement calls for a minimum base salary of $800,000 and a target annual bonus of $1.2 million.

There is also a provision for long-term compensation targeted at a combined $9 million over the course of the deal.

Esteves, previously with XL Group, replaces Rob Marcus, who has moved up to president-COO.

TWC, the country's second-largest cable operator, reported second-quarter revenues up 4.4% to $4.9 billion. Profit rose 22.8% to $420 million.

Company stock has performed strongly over the past year, reaching near a 52-week high of over $80 early last month before a recent dip. The 52-week low is $50.41.