10:50 22 September 2012
Bruce Willis is requesting a partial payment for his endorsement of French liquor brand Belvedere.
The action star entered into an agreement three years ago to endorse the brand’s line of vodka called Sobieski. It is understood he was promised a 2.6per cent stake in the firm back in 2009 in exchange for starring in a series of TV commercials and newspaper adverts.
In the event that the value of the company’s stocks would fall below a certain level, the company agreed to pay Willis $26million for his services, as reported by Female First.
Unfortunately, Belvedere has suffered a major decline in its stock value and is now struggling to stay afloat in spite of its $977million worth of debts. With its stocks no longer worth what it used to be in 2009, the original deal is no longer sufficient to cover the actor’s well-earned compensation.
Reportedly the Die Hard actor’s representatives, along with other creditors, met with the company in Paris on Tuesday September 18th to discuss the debts. Willis’ team is trying to negotiate a partial payment, now that the company has supposedly confirmed that it will not be able to pay the amount in full.
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