nice work…
[Gawker excavated the terms of the employment contract of the widely
reviled Bonnie Fuller, editorial director of American Media, which
publishes the National Enquirer, Star, and Men’s Fitness, disclosed
in an SEC filing.]
The Company is party to an employment agreement with Ms. Fuller. The
term of Ms. Fuller’s agreement commenced on July 7, 2003 and was
amended as of April 1, 2006 to extend the term of the agreement
through March 31, 2009 and to make certain other changes. Under her
employment agreement, as amended, Ms. Fuller is to receive: (i)
annual base salary in the amount of $1,500,000; (ii) an annual
incentive payment of at least $500,000 with a target of $1,000,000,
based on certain performance criteria; (iii) health and welfare
benefit plan coverage; (iv) a grant of 1,350 Class B Units upon
execution of the original agreement and an additional 450 Class B
Units upon execution of the amendment; (v) an allotment of $80,000
per year for car services; (vi) reimbursement of health club-related
expenses up to $18,000 per year; (vii) payment or reimbursement of
hair and make-up charges of up to $20,000 per year for business-
related appearances; (viii) payment of certain dues of related
professional organizations; and (ix) reimbursement of certain expenses.