Travelzoo 2007 Annual Report Download - page 21

(2) Amount represents the potential quarterly bonus payments under the terms of Mr. Loughlin’s employment
agreement. Mr. Loughlin was also eligible for an annual bonus payment which did not have a targeted payout
amount, as the amount that Mr. Loughlin may receive for such bonus is not capped. The measurements for
determining the quarterly and annual payouts are described in the Compensation Discussion & Analysis.
(3) Amount represents the potential quarterly bonus payments and guaranteed annual bonus payment under the
terms of Mr. Ng’s employment agreement. The measurements for determining the quarterly and annual payouts
are described in the Compensation Discussion & Analysis.
(4) Amount represents the potential commission payments under the terms of Ms. Tafoya’s employment agree-
ment. The measurement for determining the payout are described in the Compensation Discussion & Analysis.
(5) Amount represents the potential quarterly bonus payments under the terms of Mr. Yap’s employment
agreement. The measurements for determining the quarterly and annual payouts are described in the Com-
pensation Discussion & Analysis.
Outstanding Equity Awards at December 31, 2007
The following table sets forth certain information concerning equity awards for each of our named executive
officers that remained outstanding as of December 31, 2007.
Name
Number of
Securities
Underlying
Unexercised
Options (#)
Exercisable
Number of
Securities
Underlying
Unexercised
Options (#)
Unexercisable
Option Exercise
Price
($)
Option
Expiration
Date
Ralph Bartel ............................. 29,700 — 2.00 10/30/2011
Ralph Bartel ............................. 4,950 — 3.00 3/25/2012
Option Exercises and Stock Vested
For the year ended December 31, 2007, there were no option exercises or stock vested.
Employment Agreements and Potential Payments Upon Termination or Change-in-Control
The Company has employment agreements with its named executive officers and certain other employees. The
employment agreements as of December 31, 2007 with the Company’s named executive officers are described
below.
Mr. Ralph Bartel entered into an employment agreement with the Company on April 1, 2000. Pursuant to the
terms of the agreement, Mr. Ralph Bartel is an at-will employee and the Company or Mr. Ralph Bartel may
terminate the agreement, with or without cause, upon two weeks prior written notice. Mr. Ralph Bartel is not entitled
to receive any severance or change of control benefits under the terms of the agreement. Mr. Ralph Bartel is paid a
base salary and is eligible to participate in the Company’s Executive Bonus Plan. In addition, Mr. Ralph Bartel is
entitled to participate in or receive such benefits under the Company’s employee benefits plans and policies as may
be in effect from time to time.
Mr. Ralph Bartel agreed that the Company will own any discoveries and work product (as defined in the
agreement) made during the term of his employment and to assign all of his interest in any and all such discoveries
and work product to the Company. Furthermore, Mr. Ralph Bartel agreed to not, directly or indirectly, perform
services for, or engage in, any business competitive with the Company during the period of his employment. He also
agreed to not, directly or indirectly, solicit the Company’s customers or employees during the term of his
employment and for a period of one year thereafter.
Mr. Wayne Lee entered into an employment agreement with the Company on December 9, 2005. Pursuant to
the terms of the agreement, Mr. Lee is an at-will employee and the Company or Mr. Lee may terminate the
agreement, with or without cause, upon two weeks prior written notice. Mr. Lee is not entitled to receive any
severance or change of control benefits under the terms of the agreement. Mr. Lee is paid a base salary and is eligible
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