Cedar Fair filing will detail executive payouts if they're let go by new owner

Posted Wednesday, January 6, 2010 11:34 AM | Contributed by Jeff

On Friday, Cedar Fair plans to file its proxy statement with the Securities and Exchange Commission, outlining more details on Apollo's plans to buy the parent company of Cedar Point and turn it into a privately-owned company. A final decision on the $2.4 billion transaction is expected within 50 days. Last year's proxy statement stated that if Cedar Fair CEO Dick Kinzel lost his job after Cedar Fair was taken over, he'd receive a $20 million golden parachute. The new statement is expected to spell out details of his proposed contract extension under the new ownership.

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