NEW YORK ( TheStreet) -- TheStreet ( TST) signed contributor and hedge fund manager Doug Kass to a new long-term, royalty-based agreement.

Kass, a longtime contributor to TheStreet's network of sites, will shift to a compensation structure in which he will earn royalties based on the revenue derived from the company's RealMoney Silver subscription service, from a salary-based pay structure.

The new contract is effective Tuesday.

"We are excited to have Doug onboard as a marquee contributor," said TheStreet's CEO Daryl Otte, in a statement. "He is extremely well-respected throughout the industry and has an avid following, built on his mix of prescient investment calls and his highly entertaining market commentary, both here at TheStreet and through the prominent role he plays in the markets and other media."

Kass is noted for making a market bottom call for the stock market in March 2009.

"I'm happy to continue my long affiliation with TheStreet, especially at this exciting moment. The new royalty-based deal is a logical extension of my relationship with the company as it makes perfect sense for our interests to be aligned in this fashion. I can't wait to unveil the new RealMoney Silver service in the upcoming months," Kass said Tuesday.

-- Written by Joseph Woelfel

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