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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=5><B>UNITED STATES <BR>


SECURITIES AND EXCHANGE COMMISSION </B></FONT><BR>

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<FONT FACE="Times New Roman, Times, Serif" SIZE=4><B>WASHINGTON, D.C. 20549</B> </FONT><BR><BR>

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<FONT FACE="Times New Roman, Times, Serif" SIZE=5><B>FORM 8-K </B></FONT></P>

<P align=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3><B>CURRENT REPORT<BR><BR> PURSUANT TO SECTION 13
OR 15 (d) OF THE <BR>SECURITIES EXCHANGE ACT OF 1934</B></FONT></p>


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<P align=center><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Date
of Report (Date of earliest event reported): <B>April 16, 2007</B> </FONT></P>

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<p><table width=600><tr><td  align=center><font size=2><B>Commission file number 0-7843</B></font></td></tr></table>


<p><table width=600><tr>
    <td  align=center><font size=2><B><font size="6">4Kids Entertainment, Inc.
      </font></B></font>
      <hr noshade align="center" size="1" width="50%">
      <font size=2> (Exact name of Registrant as specified in its charter)</font></td>
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    <td  align=center width="292"><font size=2><B>New York</B></font>
      <hr noshade align="center" size="1" width="50%">
      <font size=2><B> </B>(State or other jurisdiction of <br>
      incorporation or organization) </font></td>
    <td  align=center width="296"><font size=2><b>13-2691380</b></font>
      <hr noshade align="center" size="1" width="50%">
      <font size=2><b> </b>(I.R.S. Employer<br>
      Identification No.)</font></td>
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    <td  align=center><font size=2><B>1414 Avenue of the Americas <BR>
      New York, New York 10019 <BR>
      (212) 758-7666 </B></font>
      <hr noshade align="center" size="1" width="50%">
      <font size=2><B> (</B>Address, including zip code, and telephone number,
      including area code,<br>
      of Registrant&#146;s principal executive offices)</font></td>
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<P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Check the
appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px">
<FONT SIZE="1">&nbsp;</FONT></P>


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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"></FONT><FONT FACE="WINGDINGS" SIZE="2" COLOR="#000000">&#168;</FONT><FONT FACE="Times New Roman" SIZE="2"></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </FONT></TD></TR><TR><TD>&nbsp;</TD></TR></TABLE>

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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"></FONT><FONT FACE="WINGDINGS" SIZE="2" COLOR="#000000">&#168;</FONT><FONT FACE="Times New Roman" SIZE="2"></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </FONT></TD></TR><TR><TD>&nbsp;</TD></TR></TABLE>

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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"></FONT><FONT FACE="WINGDINGS" SIZE="2" COLOR="#000000">&#168;</FONT><FONT FACE="Times New Roman" SIZE="2"></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </FONT></TD></TR><TR><TD>&nbsp;</TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%"> <TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"></FONT><FONT FACE="WINGDINGS" SIZE="2" COLOR="#000000">&#168;</FONT><FONT FACE="Times New Roman" SIZE="2"></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </FONT></TD></TR></TABLE>



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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 1.01.  Entry into a Material Definitive Agreement</FONT></H1>








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On April 16, 2007, 4Kids Entertainment Licensing, Inc. (&#147;4KEL&#148;), a subsidiary of 4Kids Entertainment, Inc. (&#147;4Kids&#148; or the
&#147;Company&#148;), 4Kids and Bruce R. Foster entered into an amendment (the &#147;Amendment&#148;) to Mr. Foster&#146;s employment agreement, dated as of December 1, 2005 and amended as of
January 30, 2007, pertaining to Mr. Foster&#146;s service as 4Kids&#146; Chief Financial Officer (the &#147;Agreement&#148;).
</FONT></P>


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Under the terms of the Amendment: (a) in the event that Mr. Foster&#146;s employment is terminated without cause, Mr. Foster will continue
to receive full salary and Fringe Benefits for the remainder of the Term (as defined in the Agreement) and a severance benefit equal to three (3) weeks of his base
salary (as of the time of termination) for each year Mr. Foster was employed by the Company or its affiliates (the &#147;Without Cause
Severance Benefit&#148;); and (b) in the event that during the Term, there shall occur a Change of Control (as defined in the Agreement), Mr. Foster may, within six (6)
months after the occurrence of the Change of Control, voluntarily terminate his employment in which case Mr. Foster shall be entitled
to receive a lump-sum payment equal to the greater of (i) 2.99 times his average annual compensation (including bonuses) paid by the Company
during the three (3) calendar years prior to the Change of Control, and (ii) the Without Cause Severance Benefit.
 </FONT></P>















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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The amendment to the Agreement described
above is furnished as exhibit 99.1 to this Report and incorporated by reference herein.
The description of the amendment is summary in nature and does not purport to
be complete. This summary should be read in connection with the exhibit hereto. </FONT></P>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 5.02.  Departure of Directors or Certain Officers;
 Election of Directors; Appointment of Certain Officers; Compensation Arrangements of Certain Officers</FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The terms of the amendment to the employment agreement of Bruce R. Foster, 4Kids&#146; Executive Vice
President and Chief Financial Officer, are briefly described in Item 1.01 above.

 </FONT></P>


<H1><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 9.01.  Financial Statements and Exhibits.</FONT></H1>


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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)
Exhibits</I></FONT></P>



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<TD ALIGN=RIGHT WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>       <U>   Exhibit</U> </FONT></TD>
<TD ALIGN=RIGHT WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>  &nbsp;  </FONT></TD>
<TD ALIGN=LEFT WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
<U>Description</U> </FONT></TD>
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<TD ALIGN=RIGHT WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>          99.1  </FONT></TD>
<TD ALIGN=RIGHT WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>  &nbsp;  </FONT></TD>
<TD ALIGN=LEFT WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Amendment to the Employment Agreement, dated as of April 16, 2007, among 4Kids Entertainment Licensing, Inc., 4Kids Entertainment, Inc. and Bruce R. Foster. </FONT></TD>
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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SIGNATURES </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused
this report to be signed on its behalf by the undersigned hereunto duly authorized. </FONT></P>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Date:&nbsp;&nbsp;April 23, 2007 </FONT></P>


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<TD WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>4KIDS ENTERTAINMENT, INC.</B><BR><BR>
<BR>By: <U><I>/s/
Alfred R. Kahn </I></U><BR><BR>
Alfred R. Kahn<BR>Chairman of the Board, Chief Executive Officer</FONT></TD>
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Exhibit Index</U></FONT></P>



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<TD ALIGN=RIGHT WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>  &nbsp;  </FONT></TD>
<TD ALIGN=LEFT WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
<U>Description</U> </FONT></TD>
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<TD ALIGN=RIGHT WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>          99.1  </FONT></TD>
<TD ALIGN=RIGHT WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>  &nbsp;  </FONT></TD>
<TD ALIGN=LEFT WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Amendment to the Employment Agreement, dated as of April 16, 2007, among 4Kids Entertainment Licensing, Inc., 4Kids Entertainment, Inc. and Bruce R. Foster.</FONT></TD>
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[{"type": "8-K", "sequence": "1", "filename": "form8k04182007bf.htm", "description": "FORM 8-K BF AMENDMENT", "secsgml_size_bytes": 13300}]
{"company-data": {"conformed-name": "4 KIDS ENTERTAINMENT INC", "cik": "0000058592", "assigned-sic": "6794", "irs-number": "132691380", "state-of-incorporation": "NY", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-16117", "film-number": "07781448"}, "business-address": {"street1": "1414 AVE OF THE AMERICAS", "city": "NEW YORK", "state": "NY", "zip": "10019", "phone": "2127587666"}, "mail-address": {"street1": "1414 AVENUE OF THE AMERICAS", "city": "NEW YORK", "state": "NY", "zip": "10019"}, "former-company": [{"former-conformed-name": "LEISURE CONCEPTS INC", "date-changed": "19920703"}, {"former-conformed-name": "AMERICAN LEISURE INDUSTRIES INC", "date-changed": "19740822"}]}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13
OR 15 (d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date
of Report (Date of earliest event reported):
April 16, 2007
Commission file number 0-7843
4Kids Entertainment, Inc.
(Exact name of Registrant as specified in its charter)
New York
(State or other jurisdiction of
incorporation or organization)
13-2691380
(I.R.S. Employer
Identification No.)
1414 Avenue of the Americas
New York, New York 10019
(212) 758-7666
(
Address, including zip code, and telephone number,
      including area code,
of Registrant's principal executive offices)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01.  Entry into a Material Definitive Agreement
On April 16, 2007, 4Kids Entertainment Licensing, Inc. ("4KEL"), a subsidiary of 4Kids Entertainment, Inc. ("4Kids" or the
"Company"), 4Kids and Bruce R. Foster entered into an amendment (the "Amendment") to Mr. Foster's employment agreement, dated as of December 1, 2005 and amended as of
January 30, 2007, pertaining to Mr. Foster's service as 4Kids' Chief Financial Officer (the "Agreement").
Under the terms of the Amendment: (a) in the event that Mr. Foster's employment is terminated without cause, Mr. Foster will continue
to receive full salary and Fringe Benefits for the remainder of the Term (as defined in the Agreement) and a severance benefit equal to three (3) weeks of his base
salary (as of the time of termination) for each year Mr. Foster was employed by the Company or its affiliates (the "Without Cause
Severance Benefit"); and (b) in the event that during the Term, there shall occur a Change of Control (as defined in the Agreement), Mr. Foster may, within six (6)
months after the occurrence of the Change of Control, voluntarily terminate his employment in which case Mr. Foster shall be entitled
to receive a lump-sum payment equal to the greater of (i) 2.99 times his average annual compensation (including bonuses) paid by the Company
during the three (3) calendar years prior to the Change of Control, and (ii) the Without Cause Severance Benefit.
The amendment to the Agreement described
above is furnished as exhibit 99.1 to this Report and incorporated by reference herein.
The description of the amendment is summary in nature and does not purport to
be complete. This summary should be read in connection with the exhibit hereto.
Item 5.02.  Departure of Directors or Certain Officers;
 Election of Directors; Appointment of Certain Officers; Compensation Arrangements of Certain Officers
(e)      The terms of the amendment to the employment agreement of Bruce R. Foster, 4Kids' Executive Vice
President and Chief Financial Officer, are briefly described in Item 1.01 above.
Item 9.01.  Financial Statements and Exhibits.
(d)
Exhibits
Exhibit
Description
99.1
Amendment to the Employment Agreement, dated as of April 16, 2007, among 4Kids Entertainment Licensing, Inc., 4Kids Entertainment, Inc. and Bruce R. Foster.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused
this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date:  April 23, 2007
4KIDS ENTERTAINMENT, INC.
By:
/s/
Alfred R. Kahn
Alfred R. Kahn
Chairman of the Board, Chief Executive Officer
Exhibit Index
Exhibit
Description
99.1
Amendment to the Employment Agreement, dated as of April 16, 2007, among 4Kids Entertainment Licensing, Inc., 4Kids Entertainment, Inc. and Bruce R. Foster.