TheStreet.com has amended founder Jim Cramer‘s contract, reducing his bonus and delaying the salary increase he was supposed to get on 1/1/2010. Now poor “Mad Money” Cramer will be stuck making only $780,000 through the first half of the year. He’ll have to wait until July 1, 2010 to get bumped up to $936,000 per half year or $1,872,000 annually.
Also, his bonus will be only $1.2 million instead of the $1.4 million he was going to get.
It is amazing that delaying this guy’s, uh, 13 percent raise probably lets TheStreet retain five more staffers (we’re just guessing at numbers here). And yes, we know that Mr. Cramer works very hard—look at him! Really, you can’t say this guy isn’t busting his ass. And his vocal chords.