Travelzoo 2004 Annual Report Download - page 12

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Ms. Tafoya worked as Director, Global Accounts, at CMP Media. Ms. Tafoya holds a bachelor's degree in
Business Administration from Notre Dame de Namur University.
Executive Compensation
The following table sets forth summary information concerning all compensation we paid our chief
executive oÇcer and each of our executive oÇcers during the years ended December 31, 2002, 2003 and 2004.
Summary Compensation Table
Long Term
Annual Compensation Compensation
Shares
Fiscal Underlying All Other
Name and Principal Position Year Salary ($) Bonus ($) Options (#)(1) Compensation
Ralph Bartel ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 2004 $225,001 15,000 Ì Ì
Chairman, President, Chief 2003 $196,002 Ì Ì
Executive OÇcer, and 2002 $192,000 Ì 5,000 Ì
Secretary
Lisa Su ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 2004 $133,801 15,000 Ì Ì
Controller 2003 $124,339 Ì Ì Ì
2002 $103,337 Ì Ì Ì
Steven LedwithÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 2004 $162,215 15,000 Ì Ì
Chief Technology OÇcer 2003 $147,126 Ì Ì Ì
2002 $130,000 Ì Ì Ì
Holger Bartel ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 2004 $273,000 15,000 Ì Ì
Executive Vice President 2003 $246,495 Ì Ì Ì
2002 $240,000 Ì Ì Ì
Shirley Tafoya ÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 2004 $386,512 15,000 Ì Ì
Senior Vice President of 2003 $294,275 Ì Ì Ì
Sale 2002 $134,448 Ì Ì Ì
Kelly FordÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 2004 $200,001 15,000 Ì Ì
Vice President of Marketing 2003 $186,133 Ì Ì Ì
2002 $ 13,925 Ì Ì Ì
(1) The options issued to Ralph Bartel during 2002 constitute compensation for participation on the Board of
Directors.
Employment Agreements
Ralph Bartel has entered into an employment agreement with us. His current employment agreement
became eÅective on July 1, 2004, and provides for an annual salary of $250,000. We may terminate the
agreement with or without cause by delivering two weeks' advance written notice to Mr. Bartel. He may
terminate his employment agreement with or without cause by delivering two weeks' advance written notice to
us.
Mr. Bartel has agreed not to compete with us, solicit our suppliers or employees or reveal our conÑdential
information during the term of his employment agreement and for one year thereafter. In addition, Mr. Bartel
is bound by a proprietary inventions agreement which prohibits him from, among other things, disseminating
or using conÑdential information about our business or clients in any way that would be adverse to us.
Certain Transactions
In connection with a registration statement related to the re-sale of up to 750,000 shares by Ralph Bartel,
our Chairman of the Board and Chief Executive OÇcer, the Company paid approximately $50,000 which
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