CKXE » Topics » Certain Relationships and Related Transactions

This excerpt taken from the CKXE DEF 14A filed Nov 3, 2009.
Certain Relationships and Related Transactions
 
Under the terms of their employment agreements, certain employees of the Company, including Messrs. Tytel and Benson, are permitted to spend a portion of their time providing services for Mr. Sillerman and MJX Asset Management LLC, a company managed by Mr. Sillerman in which Messrs. Ferrel, Tytel, Slater and Benson are also investors. In addition, certain non-management employees of the Company provide services for Mr. Sillerman and/or MJX Asset Management LLC. The compensation committee of the Company’s board of directors reviews


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the amount of time spent on outside endeavors by the Company’s employees on a quarterly basis, and to the extent the compensation committee believes any such employee is engaging in outside activities at a level whereby he is being compensated by the Company for the time spent on such outside activities, the compensation committee may require that the employee reduce the level of outside services being performed, and further, may require that the recipient of such services (either Mr. Sillerman or MJX Asset Management LLC) reimburse the Company for the compensation attributable to the time spent thereon. In 2008, the compensation committee determined that certain non-management employees of the Company had provided services to Mr. Sillerman with an aggregate value of $159,706. Mr. Sillerman’s salary for the year ended December 31, 2008 was reduced by such amount to compensate the Company for such services. In 2007, the compensation committee determined that employees of the Company had provided services to MJX Asset Management LLC and/or Mr. Sillerman with an aggregate value of $128,120. Mr. Sillerman’s salary for the year ended December 31, 2007 was reduced by such amount to compensate the Company for such services.
 
These excerpts taken from the CKXE 10-K filed Apr 30, 2009.
Certain Relationships and Related Transactions
 
Under the terms of their employment agreements, certain employees of the Company, including Messrs. Tytel and Benson, are permitted to spend a portion of their time providing services for Mr. Sillerman and MJX Asset Management LLC, a company managed by Mr. Sillerman in which Messrs. Ferrel, Tytel, Slater and Benson are also investors. In addition, certain non-management employees of the Company provide services for Mr. Sillerman and/or MJX Asset Management LLC. The compensation committee of the Company’s board of directors reviews the amount of time spent on outside endeavors by the Company’s employees on a quarterly basis, and to the extent the compensation committee believes any such employee is engaging in outside activities at a level whereby he is being compensated by the Company for the time spent on such outside activities, the compensation committee may require that the employee reduce the level of outside services being performed, and further, may require that the recipient of such services (either Mr. Sillerman or MJX Asset Management LLC) reimburse the Company for the compensation attributable to the time spent thereon. In 2008, the compensation committee determined that certain non-management employees of the Company had provided services to Mr. Sillerman with an aggregate value of $159,706. Mr. Sillerman’s salary for the year ended December 31, 2008 was reduced by such amount to compensate the Company for such services. In 2007, the compensation committee determined that employees of the Company had provided services to MJX Asset Management LLC and/or Mr. Sillerman with an aggregate value of $128,120. Mr. Sillerman’s salary for the year ended December 31, 2007 was reduced by such amount to compensate the Company for such services.
 
The information set forth under “Part I — Item 7 — Management’s Discussion and Analysis of Financial Condition and Results of Operation — Terminated Merger Agreement” and “Part I — Item 7 — Management’s Discussion and Analysis of Financial Condition and Results of Operation — Transactions Involving FX Luxury Realty LLC and FX Real Estate and Entertainment Inc.” of the Original Form 10-K” is incorporated herein by reference.
 
Certain
Relationships and Related Transactions



 



Under the terms of their employment agreements, certain
employees of the Company, including Messrs. Tytel and
Benson, are permitted to spend a portion of their time providing
services for Mr. Sillerman and MJX Asset Management LLC, a
company managed by Mr. Sillerman in which
Messrs. Ferrel, Tytel, Slater and Benson are also
investors. In addition, certain non-management employees of the
Company provide services for Mr. Sillerman
and/or MJX
Asset Management LLC. The compensation committee of the
Company’s board of directors reviews the amount of time
spent on outside endeavors by the Company’s employees on a
quarterly basis, and to the extent the compensation committee
believes any such employee is engaging in outside activities at
a level whereby he is being compensated by the Company for the
time spent on such outside activities, the compensation
committee may require that the employee reduce the level of
outside services being performed, and further, may require that
the recipient of such services (either Mr. Sillerman or MJX
Asset Management LLC) reimburse the Company for the
compensation attributable to the time spent thereon. In 2008,
the compensation committee determined that certain
non-management employees of the Company had provided services to
Mr. Sillerman with an aggregate value of $159,706.
Mr. Sillerman’s salary for the year ended
December 31, 2008 was reduced by such amount to compensate
the Company for such services. In 2007, the compensation
committee determined that employees of the Company had provided
services to MJX Asset Management LLC
and/or
Mr. Sillerman with an aggregate value of $128,120.
Mr. Sillerman’s salary for the year ended
December 31, 2007 was reduced by such amount to compensate
the Company for such services.


 



The information set forth under “Part I —
Item 7 — Management’s Discussion and
Analysis of Financial Condition and Results of
Operation — Terminated Merger Agreement” and
“Part I — Item 7 —
Management’s Discussion and Analysis of Financial Condition
and Results of Operation — Transactions Involving FX
Luxury Realty LLC and FX Real Estate and Entertainment
Inc.” of the Original
Form 10-K”
is incorporated herein by reference.


 




This excerpt taken from the CKXE DEF 14A filed Nov 24, 2008.
Certain Relationships and Related Transactions
 
Under the terms of their employment agreements, certain employees of the Company, including Messrs. Tytel and Benson, are permitted to spend a portion of their time providing services for Mr. Sillerman and MJX Asset Management LLC, a company managed by Mr. Sillerman in which Messrs. Ferrel, Tytel, Slater and Benson are also investors. In addition, certain non-management employees of the Company provide services for Mr. Sillerman and/or MJX Asset Management LLC. The compensation committee of the Company’s board of directors reviews the amount of time spent on outside endeavors by the Company’s employees on a quarterly basis, and to the extent the compensation committee believes any such employee is engaging in outside activities at a level whereby he is being compensated by the Company for the time spent on such outside activities, the compensation committee may require that the employee reduce the level of outside services being performed, and further, may require that the recipient of such services (either Mr. Sillerman or MJX Asset Management LLC) reimburse the Company for the compensation attributable to the time spent thereon. In 2007, the compensation committee determined that certain non-management employees of the Company had provided services to MJX Asset Management LLC and/or Mr. Sillerman with an aggregate value of $128,120. Mr. Sillerman’s salary for the year ended December 31, 2007 was reduced by such amount to compensate the Company for such services. In 2006, the compensation committee determined that employees of the Company had provided services to MJX Asset Management LLC and/or Mr. Sillerman with an aggregate value of $120,817. Mr. Sillerman’s salary for the year ended December 31, 2006 was reduced by such amount to compensate the Company for such services.
 
These excerpts taken from the CKXE 10-K filed Apr 29, 2008.
Certain Relationships and Related Transactions
 
Under the terms of their employment agreements, certain employees of the Company, including Messrs. Tytel and Benson, are permitted to spend a portion of their time providing services for Mr. Sillerman and MJX Asset Management LLC, a company managed by Mr. Sillerman in which Messrs. Ferrel, Tytel, Slater and Benson are also investors. In addition, certain non-management employees of the Company provide services for Mr. Sillerman and/or MJX Asset Management LLC. The compensation committee of the Company’s board of directors reviews the amount of time spent on outside endeavors by the Company’s employees on a quarterly basis, and to the extent the compensation committee believes any such employee is engaging in outside activities at a level whereby he is being compensated by the Company for the time spent on such outside activities, the compensation committee may require that the employee reduce the level of outside services being performed, and further, may require that the recipient of such services (either Mr. Sillerman or MJX Asset Management LLC) reimburse the Company for the compensation attributable to the time spent thereon. In 2007, the compensation committee determined that certain non-management employees of the Company had provided services to MJX Asset Management LLC and/or Mr. Sillerman with an aggregate value of $128,120. Mr. Sillerman’s salary for the year ended December 31, 2007 was reduced by such amount to compensate the Company for such services. In 2006, the compensation committee determined that employees of the Company had provided services to MJX Asset Management LLC and/or Mr. Sillerman with an aggregate value of $120,817. Mr. Sillerman’s salary for the year ended December 31, 2006 was reduced by such amount to compensate the Company for such services.
 
The information set forth under “Part I — Item 7 — Management’s Discussion and Analysis of Financial Condition and Results of Operation — Merger Agreement” and “Part I — Item 7 — Management’s Discussion and Analysis of Financial Condition and Results of Operation — Transactions Involving FX Luxury Realty LLC and FX Real Estate and Entertainment Inc.” of the Original Form 10-K is incorporated herein by reference.


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Certain
Relationships and Related Transactions



 



Under the terms of their employment agreements, certain
employees of the Company, including Messrs. Tytel and
Benson, are permitted to spend a portion of their time providing
services for Mr. Sillerman and MJX Asset Management LLC, a
company managed by Mr. Sillerman in which
Messrs. Ferrel, Tytel, Slater and Benson are also
investors. In addition, certain non-management employees of the
Company provide services for Mr. Sillerman
and/or MJX
Asset Management LLC. The compensation committee of the
Company’s board of directors reviews the amount of time
spent on outside endeavors by the Company’s employees on a
quarterly basis, and to the extent the compensation committee
believes any such employee is engaging in outside activities at
a level whereby he is being compensated by the Company for the
time spent on such outside activities, the compensation
committee may require that the employee reduce the level of
outside services being performed, and further, may require that
the recipient of such services (either Mr. Sillerman or MJX
Asset Management LLC) reimburse the Company for the
compensation attributable to the time spent thereon. In 2007,
the compensation committee determined that certain
non-management employees of the Company had provided services to
MJX Asset Management LLC
and/or
Mr. Sillerman with an aggregate value of $128,120.
Mr. Sillerman’s salary for the year ended
December 31, 2007 was reduced by such amount to compensate
the Company for such services. In 2006, the compensation
committee determined that employees of the Company had provided
services to MJX Asset Management LLC
and/or
Mr. Sillerman with an aggregate value of $120,817.
Mr. Sillerman’s salary for the year ended
December 31, 2006 was reduced by such amount to compensate
the Company for such services.


 



The information set forth under “Part I —
Item 7 — Management’s Discussion and
Analysis of Financial Condition and Results of
Operation — Merger Agreement” and
“Part I — Item 7 —
Management’s Discussion and Analysis of Financial Condition
and Results of Operation — Transactions Involving FX
Luxury Realty LLC and FX Real Estate and Entertainment
Inc.” of the Original
Form 10-K
is incorporated herein by reference.





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