Travelzoo 2005 Annual Report Download - page 14

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responsibilities and change in responsibilities during the past year of the individual executive, the overall
performance of the department under the executive's control and the overall performance of the entire
company. The committee does not have a formula for its determination and the committee considers all
factors in making its decision. Executive salaries are reviewed annually by the committee.
Stock-Based Compensation
Travelzoo did not compensate executives with stock or stock options in 2005.
CEO Compensation
The CEO's compensation is determined in accordance with the executive compensation principles
established by the committee. The committee considers overall performance, individual performance,
competitive compensation and targeted pay levels when determining Mr. Bartel's compensation. Performance
is measured in terms of Ñnancial results and overall growth of the Company. Mr. Bartel's annual salary was
increased to $350,000 from $250,000 as of July 1, 2005.
Compensation Committee
Ralph Bartel (Chairman)
Kelly M. Urso
Compensation Committee Interlocks and Insider Participation
During 2005, Ralph Bartel, the Chief Executive OÇcer of Travelzoo, was a member of the Compensation
Committee. Mr. Bartel did not participate in the determination of his compensation as an employee during
2005.
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