No longer a dollar a year man


CEO Jeff Smulyan is back on the payroll at Emmis Communications. After a year of taking a single dollar as his paycheck (12/13/06 RBR #241) Emmis said in an SEC filing that its CEO has entered into a one-year employment agreement, effective March 1st, paying him a base salary of 905K, with an incentive compensation target of 125% of his base salary. The one-year pact renews automatically with an annual escalator clause.