Martha Stewart to receive a bonus

(Reuters) - Martha Stewart Living Omnimedia Inc (MSO.N) will pay the lifestyle guru, Martha Stewart, $2 million (1.3 million pounds) "for her services as a performer, for making public appearances, and as an author and provider of content" under a new employment agreement.

In a filing with the U.S. Securities and Exchange Commission, the company said Stewart is entitled to an annual bonus based on the achievement of the company and individual performance goals.

For 2008, the company posted a loss of $15.7 million, or 29 cents a share.

Stewart's employment agreement was scheduled to expire in September 2009 and the new agreement extends until March 31, 2012.

(Reporting by Jennifer Robin Raj in Bangalore; Editing by Lincoln Feast)