Shaw Communications Inc. gave former CEO Jim Shaw a $25.5 million payout when he retired last November, a new shareholder proxy circular shows. In all, Jim Shaw earned $26.7 million for the year ending Aug. 31, 2011, the filing, released this month, stated. The former CEO’s pension entitlements also climbed above previous declarations from $5.3 million annually to $5.9 million, increasing what was the highest pension plan of any former CEO in the country, the report showed. The company has now projected its accrued obligation to Jim Shaw's pension at $85.1 million, up from $71 million the previous year. Jim Shaw's brother, Bradley Shaw, who took over as CEO this year, also earned $15.8 million during the company’s 2010-2011 fiscal year. That sum included his $2.4 million base salary, a $4.8 million bonus, $7.7 in accrued pension value, and $825,000 in share payments. Bradley Shaw’s pension entitlement also increased when he became CEO from $3.97 million annually to $4.7 million. The company’s accrued cost of funding his pension, which starts when he turns 65, also climbed from $37.6 million to $50.8 million. Jim and Bradley’s father, JR Shaw, who founded the company and remains executive chairman, also earned $16 million during the fiscal year, including an $8.8 million bonus as a part of an agreement allowing him to claim a percentage of annual corporate operating income.