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4Kids CEO Takes Pay Cut, Execs' Pay Tied to Ownership
posted on by Crystalyn Hodgkins
CFO, General Counsel would get payments, bonus if company changes hands
ICv2 reported on Friday that 4Kids Entertainment, is taking a 15 percent cut in his annual salary. Kahn will make US$765,000 in 2010.
In addition, regulatory filings this week revealed that two executives who would have integral roles in a potential sale of the company, the Chief Financial Officer and the General Counsel, will be eligible to receive payments of twice their annual salary and a bonus if the company changes hands.
In August, the website Paidcontent.org The CW Network.
4Kids Entertainment had posted US$13.8 million and US$5 million in losses in the third quarters of 2009, respectively.
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