Overstock.com 2004 Annual Report Download - page 108

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QuickLinks -- Click here to rapidly navigate through this document Exhibit 10.39
Summary of Compensation Arrangements
Applicable to Non-Employee Directors of Overstock.com, Inc.
Overstock.com, Inc. (the "Company") reimburses its non-employee directors for out-of-pocket expenses incurred in connection with attending Board and
committee meetings. Prior to the third quarter of 2004, the Company did not pay any of its non-employee directors any other cash amounts. Beginning in the
third quarter of 2004, the Company began paying its non-employee directors $20,000 annually at the rate of $5,000 per quarter.
The Company maintains its 2002 Stock Option Plan, as amended, under which the Board of Directors has the power to grant options and other awards to
members of the Board. No options or other awards have been made during 2005 to any non-employee member of the Board. During 2004 the Board granted
options to non-employee directors as follows:
Name Grant Date Exercise Price ($)
Number of
Options Granted
John J. Byrne May 21, 2004 31.13 5,000
Gordon Macklin January 23, 2004
May 21, 2004 18.58
31.13 10,000
5,000
Allison Abraham January 23, 2004
May 21, 2004 18.58
31.13 10,000
5,000
John Fisher January 23, 2004
May 21, 2004 18.58
31.13 10,000
5,000
QuickLinks
Summary of Compensation Arrangements Applicable to Non-Employee Directors of Overstock.com, Inc.