This from ReelComix.com:
$4 million... and a cut of the profits. Profits he says he will never see since apparently in Hollywood its easy to not show a profit on a film.
Favreau let it be known that he is NOT signed to do 3 pictures like the rest of the key players, namely Downey. Because of how much money the movie has made there will be definite heavy negotations for him on the sequel. Does anyone else feel he got screwed?