Travelzoo 2013 Annual Report Download - page 109

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74
The following table sets forth long lived asset by geographic area (in thousands):
December 31,
2013 2012
United States $ 6,557 $ 3,368
Rest of the world 2,092 1,932
Total long lived assets $ 8,649 $ 5,300
Note 13: Related Party Transactions
Ralph Bartel, who founded Travelzoo and who is a Director of the Company is the sole beneficiary of the Ralph Bartel
2005 Trust, which is the controlling shareholder of Azzurro Capital Inc. As of December 31, 2013, Azzurro is the Company's
largest stockholder, holding approximately 48.2% of the Company's outstanding shares.
In July 2010, the Company entered into an independent contractor agreement with Holger Bartel, the Company’s former
Chief Executive Officer, the Company’s Chairman and brother of Ralph Bartel, who founded Travelzoo and who is a director
of the Company, to provide consulting services. Fees for these services rendered during the nine months ended September 30,
2011 totaled approximately $380,000. No consulting services were rendered after September 30, 2011 as effective October 1,
2011, Holger Bartel became a full time employee of Travelzoo Inc. pursuant to an employment agreement, which ended on
October 31, 2013.
In 2009, the Company sold its Asia Pacific operating segment to Travelzoo (Asia) Limited and Travelzoo Japan K.K.,
subsidiaries of Azzurro Capital Inc. There is a reciprocal revenue-sharing and hosting agreement among the Azzurro Capital
Inc. entities operating the Travelzoo business in Asia Pacific and the Company related to cross-selling audiences and hosting
and development services by the Company, which were entered into in connection with the sale of Asia Pacific business
segment. The net fees generated by the Company under these agreements amounted to $704,000, $536,000 and $616,000 for
the years ended December 31, 2013, 2012 and 2011, respectively. The Company’s net receivables from the Azzurro Capital Inc.
entities operating the Travelzoo business in Asia Pacific under these agreements totaled $189,000 and $260,000 as of
December 31, 2013 and 2012, respectively. In addition, as part of the sale of the Asia Pacific operating segment in 2009, the
Company obtained an option, which expires in June 2020, to repurchase the Asia Pacific business pursuant to the terms of the
option agreement.