Every MySpace user is sure to know MySpace co-founder Tom Anderson, better known as "Tom," every user's first friend when they join the service. But you probably didn't know just how badly Anderson wanted to keep his job at MySpace after cofounder Chris DeWolfe was fired earlier this year.

Business Insider cites a single unnamed source who says Anderson signed a new two-year deal worth $500,000 per year. That translates to a $7 million pay cut from the two-year deal he signed with News Corp. back in 2007, Business Insider adds.

Astonishingly, Anderson won't be lifting much for his million-dollar deal. As part of the deal, he's been asked to no longer come into the office and take on an ambassador's role in which he'll have very little decision-making power.