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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>December 31, 2009</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: </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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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><b><font size=2>Item 5.02.  Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensation Arrangements of Certain Officers</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>(b)  On December 31, 2009, Norman Grossfeld, President of 4Kids Productions, Inc., advised the Company that he would
be resigning from his position. Under the terms of Mr. Grossfeld&#146;s employment agreement which expired on December
31, 2009, Mr. Grossfeld will be eligible to receive three weeks salary for each year of service to the Company.
</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>(c)  On December 31, 2009, Alfred R. Kahn, Chairman and Chief Executive Officer of 4Kids Entertainment, Inc. (the &#147;Company&#148;) entered into
an amendment to his employment agreement with 4Kids Entertainment Licensing, Inc. (&#147;4KEL&#148;) providing for a 15% reduction in his salary for the remainder
of his employment term. Commencing on January1, 2010, Mr. Kahn&#146;s salary will be $765,000.
</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>On December 31, 2009, the Company and 4KEL entered into amendments to their Severance Agreements
with Bruce Foster, Executive Vice President and Chief Financial Officer of the Company and Samuel
Newborn, Executive Vice President and General Counsel of the Company. Under the terms of the amendments to the
Severance Agreements, if a &#147;change of control&#148; occurs prior to
December 31, 2010, each of Messrs. Foster and Newborn would have the right to voluntarily terminate his employment by 4KEL within
three months of the transaction and receive a payment equal to 2 times his average compensation (including
bonuses) during the last 3 years.
In addition, under the amendments if no &#147;change of control&#148; has occurred by December 31, 2010, each of Messrs. Foster and
Newborn will have the right to resign as of December 31, 2010 and receive a severance payment equal to $242,207.69 and $403,846.15, respectively, corresponding to the
severance benefit that would have been payable
to Messrs. Foster and Newborn, under the terms of their respective employment agreements which expired on December 31, 2009,
had Messrs. Foster and Newborn resigned effective December 31, 2009.
</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</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>(d)
Exhibits</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 Second Amended and Restated Employment Agreement, dated as of December 31, 2009, among 4Kids Entertainment Licensing, Inc., and Alfred R. Kahn. </FONT></TD>
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<TD ALIGN=RIGHT WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>          99.2  </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 Severance Agreement, dated as of December 31, 2009, among 4Kids Entertainment Licensing, Inc., 4Kids Entertainment, Inc. and Bruce R. Foster. </FONT></TD>
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<TD ALIGN=RIGHT WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>          99.3  </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 Severance Agreement, dated as of December 31, 2009, among 4Kids Entertainment Licensing, Inc., 4Kids Entertainment, Inc. and Samuel R. Newborn. </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;January 7, 2010. </FONT></P>


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<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>4KIDS ENTERTAINMENT, INC.</B><BR><BR>
<BR>By: <U><I>/s/
Bruce R. Foster </I></U><BR><BR>
Bruce R. Foster<BR>Executive Vice President and <BR> Chief Financial Officer</FONT></TD>
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Exhibit Index</U></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 Second Amended and Restated Employment Agreement, dated as of December 31, 2009, among 4Kids Entertainment Licensing, Inc., and Alfred R. Kahn. </FONT></TD>
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<TD ALIGN=RIGHT WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>          99.2  </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 Severance Agreement, dated as of December 31, 2009, among 4Kids Entertainment Licensing, Inc., 4Kids Entertainment, Inc. and Bruce R. Foster. </FONT></TD>
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<TD ALIGN=RIGHT WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>          99.3  </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 Severance Agreement, dated as of December 31, 2009, among 4Kids Entertainment Licensing, Inc., 4Kids Entertainment, Inc. and Samuel R. Newborn. </FONT></TD>
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[{"type": "8-K", "sequence": "1", "filename": "form8k123109exec.htm", "description": "FORM 8-K DATED 12/31/09", "secsgml_size_bytes": 15462}]
{"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": "10515317"}, "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):
December 31, 2009
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:
¨
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 5.02.  Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensation Arrangements of Certain Officers
(b)  On December 31, 2009, Norman Grossfeld, President of 4Kids Productions, Inc., advised the Company that he would
be resigning from his position. Under the terms of Mr. Grossfeld's employment agreement which expired on December
31, 2009, Mr. Grossfeld will be eligible to receive three weeks salary for each year of service to the Company.
(c)  On December 31, 2009, Alfred R. Kahn, Chairman and Chief Executive Officer of 4Kids Entertainment, Inc. (the "Company") entered into
an amendment to his employment agreement with 4Kids Entertainment Licensing, Inc. ("4KEL") providing for a 15% reduction in his salary for the remainder
of his employment term. Commencing on January1, 2010, Mr. Kahn's salary will be $765,000.
On December 31, 2009, the Company and 4KEL entered into amendments to their Severance Agreements
with Bruce Foster, Executive Vice President and Chief Financial Officer of the Company and Samuel
Newborn, Executive Vice President and General Counsel of the Company. Under the terms of the amendments to the
Severance Agreements, if a "change of control" occurs prior to
December 31, 2010, each of Messrs. Foster and Newborn would have the right to voluntarily terminate his employment by 4KEL within
three months of the transaction and receive a payment equal to 2 times his average compensation (including
bonuses) during the last 3 years.
In addition, under the amendments if no "change of control" has occurred by December 31, 2010, each of Messrs. Foster and
Newborn will have the right to resign as of December 31, 2010 and receive a severance payment equal to $242,207.69 and $403,846.15, respectively, corresponding to the
severance benefit that would have been payable
to Messrs. Foster and Newborn, under the terms of their respective employment agreements which expired on December 31, 2009,
had Messrs. Foster and Newborn resigned effective December 31, 2009.
Item 9.01.  Financial Statements and Exhibits.
(d)
Exhibits
Exhibit
Description
99.1
Amendment to Second Amended and Restated Employment Agreement, dated as of December 31, 2009, among 4Kids Entertainment Licensing, Inc., and Alfred R. Kahn.
99.2
Amendment to Severance Agreement, dated as of December 31, 2009, among 4Kids Entertainment Licensing, Inc., 4Kids Entertainment, Inc. and Bruce R. Foster.
99.3
Amendment to Severance Agreement, dated as of December 31, 2009, among 4Kids Entertainment Licensing, Inc., 4Kids Entertainment, Inc. and Samuel R. Newborn.
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:  January 7, 2010.
4KIDS ENTERTAINMENT, INC.
By:
/s/
Bruce R. Foster
Bruce R. Foster
Executive Vice President and
Chief Financial Officer
Exhibit Index
Exhibit
Description
99.1
Amendment to Second Amended and Restated Employment Agreement, dated as of December 31, 2009, among 4Kids Entertainment Licensing, Inc., and Alfred R. Kahn.
99.2
Amendment to Severance Agreement, dated as of December 31, 2009, among 4Kids Entertainment Licensing, Inc., 4Kids Entertainment, Inc. and Bruce R. Foster.
99.3
Amendment to Severance Agreement, dated as of December 31, 2009, among 4Kids Entertainment Licensing, Inc., 4Kids Entertainment, Inc. and Samuel R. Newborn.