“Mad Money” Jim Cramer to give up a nearly $2 million salary in exchange for royalty payments…Heidi Klum will write about (among other things) parenting for AOL….Newsday’s priorities are clear based on their new hires…and more from yesterday…

• Cramer forgoes TheStreet.com salary for royalty payments (via Romenesko)

• AOL Lands Heidi Klum (via SAI: Silicon Alley Insider)

• Newsday Hires 31 Employees To Beef Up Online And Local Coverage (via FishbowlNY)

• WSTRNCV Magazine Launches Online (via FishbowlLA)

• Alec Baldwin to MSNBC? Um, No (via TVNewser)

• Allison Hobson Falkenberry Promoted At Rodale (via FishbowlNY)

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.

PaidContent’s Rafat Ali notes that TheStreet.com has been in cost-cutting mode and this new contract could be a part of their cuts.

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.

FishbowlNY picked up on this story yesterday, but we thought it was worth repeating: TheStreet.com editor-in-chief David Morrow received a 61 percent increase in compensation in 2008, from $294,548 in 2007 to $495,157.

The company didn’t disclose how much co-founder Jim Cramer made.

To be fair, Morrow’s guided the finance web site to success; under his tenure, the site’s won a Gerald Loeb award (for journalists who make “significant contributions to the understanding of business”) and three Society of Business Editors and Writers awards.

But Morrow’s Loeb came in 2005, and TheStreet.com’s SABEW for last year was for its Blackberry application.

If we’re now allowed to get raises for things we accomplished in the past, I think I deserve at least a small token of appreciation for winning the 5th grade spelling bee. My hand’s out, guys. Come on.