Tucows 2013 Annual Report Download - page 67

Download and view the complete annual report

Please find page 67 of the 2013 Tucows annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 102

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102

Michael
Cooperman
37,500
-
2.32
8/10/14
30,000
-
3.40
3/18/14
18,750
-
2.40
5/22/15
32,000
8,000
2.80
5/16/17
8,750
4,375
2.92
8/14/18
7,500
5,625
5.52
5/17/19
6,250
4,688
5.76
12/31/19
6,250
6,250
10.16
11/10/20
147,000
28,938
David Woroch
15,000
-
2.32
8/10/14
20,000
-
3.40
3/18/14
16,250
-
2.40
5/22/15
32,000
8,000
2.80
5/16/17
8,750
4,375
2.92
8/14/18
7,500
5,625
5.52
5/17/19
6,250
4,688
5.76
12/31/19
6,250
6,250
10.16
11/10/20
112,000
28,938
The stock options grants listed in the above table were issued under our 1996 Plan as well as under our 2006 Plan.
Under the 1996 Plan, these options vest over a period of four years and have a 10 year term. These options are not
exercisable for one year after the grant. Thereafter they become exercisable at the rate of 25% after the first year, with the
remaining 75% vesting evenly at each month end over the next 36 months, becoming fully exercisable after the fourth year.
Under the 2006 Plan, these options vest over a period of four years and have a 7 year term. These options are not
exercisable for one year after the grant. Thereafter they become exercisable at the rate of 25% per annum, becoming fully
exercisable after the fourth year.
Director Compensation
The required information regarding our director compensation is set forth in Part III, Item 10 “Directors, Executive
Officers and Corporate Governance” and is incorporated herein by reference.
72
Potential Payments on Termination or Change In Control
We have certain agreements that require us to provide compensation to our named executive officers in the event of
a termination of employment or a change in control of Tucows. These agreements are summarized following the table below
and do not include any payment for termination for cause. The tables below show estimated compensation payable to each
named executive officer upon various triggering events. Actual amounts can only be determined upon the triggering event.
Elliot Noss (1)
2013
Termination
without Cause
Change in
Control
Compensation
Base Salary/Severance (2)
$
714,313
$
716,313
Bonus Plan (3)
329,489
329,489
Acceleration of Unvested Equity Awards (4)
311,025
311,025
Benefits (5)
Car Allowance
17,444
17,444
Healthcare Flexible Spending Account
2,908
2,908
Healthclub
-
-
$
1,375,179
$
1,377,179