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Probono · 11-25-2002, 10:14 PM

George made a bundle on his name. This is from Saltons SEC for 10-Q

On July 2, 2001, we took back 456,175 of the 546,075 shares issued to George Foreman on September 7, 2000 and paid him $18 million. This payment, which represented $20.0 million less the proceeds George Foreman received from the sale of shares on the open market previously issued to him, terminated the guarantee obligation with respect to the shares issued to him and satisfied the third annual installment due under the note payable to George Foreman. As a result of this transaction, we now have only two installments remaining under the note as well as the outstanding guarantee obligation to the other venture participants.

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New York, December 15, 1999 -- In the competition for endorsements, George Foreman scored a first-round knockout.

Salton Inc., a maker of houseware -- including "George Foreman Grills," "Big George Rotisserie" and a full line of George Foreman cookware -- has renegotiated their endorsement contract with the ex-boxer to give him an astounding $137.5million in cash and stock for worldwide rights to use the former heavyweight boxing champion's name and image to sell food-preparation products, including indoor and outdoor grills. Foreman will receive shares of Salton stock worth $23.5million and five annual cash payments of $22.75 million. Financial experts said the deal is one of the largest endorsement contracts ever.

11-25-2002, 10:14 PM
Probono Confirmed User Join Date: Oct 2002 Location: Under the Rainbow Posts: 2,731	George made a bundle on his name. This is from Saltons SEC for 10-Q On July 2, 2001, we took back 456,175 of the 546,075 shares issued to George Foreman on September 7, 2000 and paid him $18 million. This payment, which represented $20.0 million less the proceeds George Foreman received from the sale of shares on the open market previously issued to him, terminated the guarantee obligation with respect to the shares issued to him and satisfied the third annual installment due under the note payable to George Foreman. As a result of this transaction, we now have only two installments remaining under the note as well as the outstanding guarantee obligation to the other venture participants. More New York, December 15, 1999 -- In the competition for endorsements, George Foreman scored a first-round knockout. Salton Inc., a maker of houseware -- including "George Foreman Grills," "Big George Rotisserie" and a full line of George Foreman cookware -- has renegotiated their endorsement contract with the ex-boxer to give him an astounding $137.5million in cash and stock for worldwide rights to use the former heavyweight boxing champion's name and image to sell food-preparation products, including indoor and outdoor grills. Foreman will receive shares of Salton stock worth $23.5million and five annual cash payments of $22.75 million. Financial experts said the deal is one of the largest endorsement contracts ever. Last edited by Probono; 11-25-2002 at 10:16 PM..