TALKING BIZ NEWS EXCLUSIVE
TheStreet.com has struck an agreement with co-founder Jim Cramer where his 2010 salary raise won’t take affect until July 1 and his potential 2010 bonus will be lowered.
According to a Securities and Exchange Commission filing, Cramer’s salary increase to $1.87 million from $1.56 million was originally scheduled for Jan. 1. But he and the online financial news site amended an employee agreement dated Jan. 1, 2008.
In addition, Cramer, who is also the host of the CNBC show “Mad Money,” agreed that his target bonus for 2010 would be $1.287 million, less than the $1.4 million — or 75 percent of his base pay — that was originally targeted in the original employee agreement.
The employee agreement also gives Cramer 22,000 restricted stock units, vesting one-third of the units each year.
Last month, TheStreet.com restated its earnings for 2008.
The filing can be read here. Here’s a 2008 post that details Cramer’s compensation history with the Web site.
