How much do you think Time Warner's top lawyer makes?

By Matthew Belloni

If you guessed $1.25 million a year, plus $2.5 million in bonus if things go well, you'd be right. 

Time Warner's executive vp and general counsel Paul Cappaccio (left, with judge Alex Kosinski) just reupped his contract until 2013 and, according to an SEC filing we tracked down, he's getting a bump from the $1 million salary he's been making since 2004.  

Not a bad gig. The man in the top legal job at Time Warner ranks third on the list of highest-paid general counsels, according to law.com. Cappaccio, a Harvard Law grad who clerked for two Supreme Court justices (Scalia and Kennedy, plus Kosinski on the Ninth Circuit) and was formerly general counsel at AOL, makes more than his Top 10 counterparts at Disney, Viacom and CBS, according to the survey.

But we're sad to report that, according to the filing, Cappaccio's new deal "eliminates the right to receive office space, secretarial services and other support facilities and services" if he is fired without cause." Oh well.