Travelzoo 2005 Annual Report Download - page 12

Download and view the complete annual report

Please find page 12 of the 2005 Travelzoo 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 80

  • 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

Christopher Loughlin was elected Senior Vice President and General Manager, Europe, in 2005 after
serving as Vice President of Business Development since 2001. From 1999 to 2001, he was Chief Operating
OÇcer of Weekends.com. Mr. Loughlin holds a BSc(Hons) in Technology Management from StaÅordshire
University and an MBA from Columbia University Graduate School of Business in New York City.
Lisa Su has served as Controller (Chief Accounting OÇcer) since 2000. From 1999 to 2000, Ms. Su was
a Treasury Accountant for Webvan Group, Inc. Ms. Su holds a bachelor's degree in economics/accounting
from Claremont McKenna College and an MBA in Finance from California State University, Hayward.
Shirley Tafoya has served as Senior Vice President of Sales since 2001. From 1999 to 2001, Ms. Tafoya
was the Director of Western Sales at Walt Disney Internet Group. From 1998 to 1999, Ms. Tafoya was a Sales
Manager at IDG/International Data Group. 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, 2003, 2004 and 2005.
Summary Compensation Table
Long Term
Annual Compensation Compensation
Shares
Fiscal Underlying All Other
Name and Principal Position Year Salary ($) Bonus ($) Options (#) Compensation
Ralph Bartel ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 2005 $280,373 Ì Ì Ì
Chairman, President, and Chief 2004 $225,001 15,000 Ì Ì
Executive OÇcer 2003 $196,002 Ì Ì Ì
Lisa Su ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 2005 $150,677 Ì Ì Ì
Controller (Chief Accounting 2004 $133,801 15,000 Ì Ì
OÇcer) 2003 $124,339 Ì Ì Ì
Steven LedwithÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 2005 $181,250 Ì Ì Ì
Chief Technology OÇcer 2004 $162,215 15,000 Ì Ì
2003 $147,126 Ì Ì Ì
Holger BartelÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 2005 $298,000 Ì Ì Ì
Executive Vice President 2004 $273,000 15,000 Ì Ì
2003 $246,495 Ì Ì Ì
Shirley TafoyaÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 2005 $490,844 Ì Ì Ì
Senior Vice President of Sales 2004 $386,512 15,000 Ì Ì
2003 $294,275 Ì Ì Ì
Christopher Loughlin ÏÏÏÏÏÏÏÏÏÏÏÏÏ 2005 $225,785 26,423 Ì Ì
Senior Vice President and 2004 $249,500 15,000 Ì Ì
General Manager, Europe 2003 $200,895 Ì Ì Ì
Employment Agreements
Ralph Bartel has entered into an employment agreement with us. His annual salary was increased to
$350,000 as of July 1, 2005. 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.
9