Martha Stewart Taking Pay Cut
In addition to looking for a little love on Match.com, it seems like Martha Stewart is just going to keep going, even after being hit with lawsuits and killing off Everyday Food.
Jezebel reports that the domestic diva's company, Martha Stewart Living Omnimedia, has cut their namesake's annual salary. A recent filing shows Stewart will be making a new reduced annual salary of $1.8 million until 2017 (started July 1), some $200,000 less than her current salary. She will also receive $300,000 less from licensing her name to products, making $1.7 million a year, starting Sept. 15, 2013.
In addition to these cuts, Stewart has to deal with a "new expense policy," most likely reducing what type of business expenses she gets reimbursed for. Furthermore, Martha Stewart Living Omnimedia will get one-third of Stewart's cut from appearing in productions that aren't funded by the company. The latter part is somewhat confusing, especially as Stewart has had multiple television appearances, from Two Broke Girls to the TODAY show.
So if Stewart is a "performer" in a televised appearance, she gives up a third of her pay. But for one-time appearances on a pilot? Not necessary. "For the avoidance of doubt, where your services do not require recurring services that could interfere with your duties and responsibilities, you shall continue to have the right to receive and retain all of the fees payable," the filing reads.
"To illustrate the intent of the foregoing sentences, you shall have the right to receive the entire talent fee for one-time appearances or your participation in the development of a pilot for a show or series, but the Company would be entitled to the specified portion of the talent fee if your services as a performer were required in any show or series developed from such a pilot."
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