Michael Burns extends Lionsgate contract
Vice chairman with company through 2013TORONTO -- Lionsgate vice-chairman Michael Burns has extended his contract for another two years to September 2013.
Burn's previous contract ran to September 2011.
In an SEC filing, Lionsgate said it amended Burns' contract on November 2 to include the extension and revised severance and compensation terms, including new stock options.
The additional shares are welcome after Burns lost almost half of his common shares in Lionsgate as a result of a forced liquidation by Merrill Lynch in October 2008 during the height of the market meltdown.
Vancouver-based Lionsgate is to release its second quarter results after the market closes Monday.