Travelzoo 2010 Annual Report Download - page 21

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Summary Compensation Table
The following summary compensation table sets forth information concerning the compensation to our Chief
Executive Officer, Chief Financial Officer and the three other most highly compensated executive officers during
the fiscal year ended December 31, 2010, December 31, 2009 and December 31, 2008.
Name and Principal Position
Fiscal
Year
Salary
($)
Bonus
($)
Option
Awards
($)(1)
Non-Equity
Incentive Plan
Compensation
($)(2)
All Other
Compensation
($)
Total
($)
Christopher Loughlin(3) ...... 2010 435,608 20,000(7) — 379,912(12) 61,886(17) 897,406
Chief Executive Officer 2009 324,418 3,371(7) 3,468,000 824,705(12) 52,036(17) 4,672,530
(effective July 1, 2010) 2008 381,714 — — 407,556(12) 31,011(17) 820,281
Holger Bartel(4) ........... 2010 200,000 40,000(8) — 60,000(13) 257,398(18) 557,398
Chief Executive Officer 2009 400,000 70,000(8) — 140,000(13) — 610,000
(through June 30, 2010)
and Chairman of the Board
of Directors
2008 100,000 20,000(8) — — 613,822(18) 733,822
Wayne Lee . . . ............ 2010 240,000 41,119(9) — 90,000(14) 1,500(19) 372,619
Chief Financial Officer 2009 240,000 46,517(9) — 105,000(14) 1,500(19) 393,017
2008 240,000 47,335(9) — — 1,500(19) 288,835
Max Rayner(5) ............ 2010 192,404 — — 60,000(15) 36,670(20) 289,074
Chief Information Officer 2009 472,500 82,500(10) — 140,000(15) 451,500(20) 1,146,500
2008 450,000 190,000(10) — — 1,500(19) 641,500
Shirley Tafoya(6) ........... 2010 522,906 202,369(11) — 150,000(16) 1,500(19) 876,775
President, North America 2009 518,010 266,441(11) — — 11,462(21) 795,913
2008 518,010 175,000(11) — — 1,500(19) 694,510
(1) Under SEC rules, the values reported reflect the aggregate grant date fair value of grants of stock options to
each of the listed officers in the years shown. We calculate the grant date fair value of stock options using the
Black-Scholes option pricing model. For a more detailed discussion on the valuation model and assumptions
used to calculate the fair value of our options, refer to notes 1 and 7 to the consolidated financial statements
contained in our 2010 Annual Report on Form 10-K filed on March 16, 2011.
(2) The amounts reflected in this column reflect the performance-based cash awards paid to the named executives
under our Executive Bonus Plan and pursuant to certain employment agreements, as discussed in the CD&A
above.
(3) Mr. Loughlin became the Chief Executive Officer on July 1, 2010. In 2008, 2009 and from January 1, 2010 to
June 30, 2010, Mr. Loughlin served as Executive Vice President, Europe. Mr. Loughlin’s compensation for
2008, 2009 and from January 1, 2010 to June 30, 2010 is denominated in British pounds and was translated
into U.S. dollars using the average 2008, 2009, and 2010 daily exchange rates of £1 = $1.83516,
£1 = $1.55970, and £1 = $1.54431, respectively, as published on oanda.com.
(4) Mr. Bartel served as Chief Executive Officer from October 1, 2008 to June 30, 2010. From November 12, 2007
to September 30, 2008, Mr. Bartel served as a consultant to the Company under the terms of an independent
contractor agreement. Starting July 1, 2010, Mr. Bartel has been serving as a consultant to the Company under
the terms of an independent contractor agreement.
(5) Mr. Rayner’s employment terminated on May 14, 2010.
(6) Ms. Tafoya became the President, North America on June 18, 2008. Prior to June 18, 2008, Ms. Tafoya served
as Senior Vice President of Sales.
(7) For 2010, amount consists of discretionary bonuses earned per the terms of Mr. Loughlin’s employment
agreement. For 2009, amount consists of a $3,371 bonus payment made to eligible employees of the Company
as of the end of December 31, 2009.
(8) Amount consists of discretionary bonuses earned per the terms of Mr. Holger Bartel’s employment agreement.
(9) For 2010, amount consists of $38,750 of discretionary bonuses earned per the terms of Mr. Lee’s employment
agreement and $2,369 in bonus payments made to eligible employees of the Company as of the end of
December 31, 2010. For 2009, amount consists of $41,250 of discretionary bonuses earned per the terms of
18