Quote:

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Employment Agreements

Each of Robert A. Friedland, Adrianne D. Moore and Ronald C. Stone entered into employment agreements with us. The employment agreements have similar terms other than the amount of compensation. Under the employment agreements, we have agreed to pay Ms. Moore and Mr. Friedland each an annual salary of $360,000 and Mr. Stone an annual salary of $240,000, subject to annual increases. The agreements are for five years commencing on September 1, 2003. In the event that we terminate any of these executives for other than good cause, as defined in the agreements, we have to pay the executive’s salary and provide them with benefits for the remainder of the term of the agreement.

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So they each receive between $1.2 and $1.8 million spread out over five years, guaranteed, for as long as the company is in existence. On the plus side, that's only a fraction of how much debt they already have.

They might tank sooner than I thought. Free Jenna!