Mr. Foreman will be paid an aggregate of U.S. $9 million (50 percent of which may be paid through the issuance of shares of Salton common stock) for his services over the term of the agreement, which continues through Nov. 30, 2006.
"We are very excited about this expanded role for George Foreman," said Leonhard Dreimann, CEO of Salton. "We believe that television infomercials and commercials featuring George Foreman, as well as other types of appearances by George Foreman, will increase consumer awareness and demand for our products. Under our agreement with George Foreman, these marketing initiatives may occur in the United States as well as other areas of the world where our products are marketed to consumers. Our previous trips to the United Kingdom and other parts of the world with George Foreman have generated significant demand internationally for our George Foreman(TM) product line."