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Martha Stewart Signs Hefty Contract Renewal with Martha Stewart Living Omnimedia Inc.

By Amarendra Bhushan for CEOWORLD Magazine Updated:April 16, 2009

Martha Stewart Living Omnimedia Inc will pay the lifestyle guru, Martha Stewart, $2 million “for her services as a performer, for making public appearances, and as an author and provider of content” under a new employment agreement effective as of April 1, 2009.

The marthastewart.com website provides consumers with instant access to MSLO’s multimedia library, search and find capabilities, recipes, online workshops, community and personalization, as well as wedding-planning tools powered by WeddingWire.

The Publishing segment encompasses four magazines, including the company’s flagship publication, Martha Stewart Living, periodic special issues and books.

- Stewart’s employment agreement was scheduled to expire in September 2009

- The new agreement extends until March 31, 2012.

- Martha Stewart is entitled to an annual bonus based on the achievement of the company and individual performance goals.

- For 2008, the company posted a loss of $15.7 million, or 29 cents a share.

- Ms. Stewart continues to serve as the Company’s Founder, a non-officer position.

- Martha Stewart Living Omnimedia, Inc. will announce its financial results for the first quarter ending March 31, 2009, on April 30, 2009

- Martha Stewart Living Omnimedia, Inc. is a diversified media and merchandising company, inspiring and engaging consumers with unique lifestyle content and distinctive products.

- Stewart will also receive a $3 million payment for signing the contract extension.

- And could earn a bonus of up to $1.5 million for each of those years

- Stewart’s 2008 pay package was valued at nearly $3.7 million ($900,000 salary and stock-option awards valued at $1.9 million.).

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