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Anime News

4Kids? Kahn Takes Pay Cut Deal Incentives for Execs
Date: 1/8/2010
A number of executive moves reflecting 4Kids Entertainment?s direction were revealed in regulatory filings this week. CEO Al Kahn is taking a 15% pay cut, indicating continued tough sledding for the company. After getting hammered by investment losses around the financial crisis, 4Kids has also been reporting operating losses, with declining licensing revenues and difficulty getting traction for its Chaotic TCG (see ?The Most Challenging Period of My Life?). But don?t feel too bad for Kahn, who will still pull down $765,000 this year.



Two executives that will play a big role in a potential sale of the company (see ?4Kids Looks at a Sale?) have new compensation agreements that incentivize them to make that happen: the CFO and General Counsel of the company will be eligible to receive payments of twice their annual salary and bonus if a change of control occurs.
Source: ICv2