Overstock.com 2014 Annual Report Download - page 110

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Exhibit 10.16
Summary of Unwritten Compensation Arrangements
Applicable to Non-Employee Directors of Overstock.com, Inc.
During 2014 the Company paid its non-employee directors $60,000. During 2015 the Company intends to pay its non-employee directors $60,000 annually,
at the rate of $15,000 per quarter. The Company also grants restricted stock units to directors, generally at the first Board meeting after the director first joins
the Board, and periodically thereafter. In 2014, the Company granted restricted stock units to non-employee directors as follows:
Name (1) Grant Date
Number of Restricted Stock Units
Granted (2)
Allison H. Abraham January 28, 2014
3,500
Barclay F. Corbus January 28, 2014
3,500
Joseph J. Tabacco, Jr. January 28, 2014
3,500
Samuel A. Mitchell January 28, 2014
3,500
(1) On February 5, 2015 the Board also appointed Kirthi Kalyanam, Ph.D. to the Board. The Board has determined that Dr. Kalyanam is independent
under the applicable independence standard.
(2) Each restricted stock unit represents a contingent right to receive one share of Overstock.com, Inc. common stock. The restricted stock units vest
in three equal installments at the close of business on January 28, 2015, January 28, 2016, and January 28, 2017. Vested shares will be delivered to
the reporting person promptly after the restricted stock units vest. Amount shown does not include previously granted restricted stock units with
different vesting schedules.
The Company also reimburses directors for out-of-pocket expenses incurred in connection with attending Board and committee meetings. Haverford Valley,
L.C., an affiliate of the Company, and certain affiliated entities which make travel arrangements for the Company's executives, also occasionally make travel
arrangements for directors to attend Board meetings. The Company’s policies regarding reimbursement of travel expenses are described in the Annual Report
on Form 10-K.