CYBERSOURCE CORPORATION ORAL EMPLOYMENT AGREEMENTS WITH DIRECTORS AND NAMED EXECUTIVE OFFICERS
Exhibit 10.14
CYBERSOURCE CORPORATION ORAL EMPLOYMENT AGREEMENTS
WITH DIRECTORS AND NAMED EXECUTIVE OFFICERS
Arrangements with Named Executive Officers
Certain named executive officers have oral employment arrangements with the Company as follows:
| Name | Title | Base Salary | Employment Term | ||||
| William S. McKiernan | Chairman and Chief Executive Officer | $ | 300,000 | At-will | |||
| Robert J. Ford | Executive Vice President, Product Development and Chief Technology Officer | $ | 225,000 | At-will | |||
| Steven D. Pellizzer | Vice President, Finance and Chief Financial Officer | $ | 200,000 | At-will | |||
| Michael A. Walsh | Vice President, Worldwide Sales | $ | 200,000 | At-will | |||
In addition, such officers are eligible to receive for each quarter in 2005 a cash bonus equal to 3% to 5% of such officer’s annual base salary if the Company exceeds certain corporate profit milestones for that quarter.
Arrangements with Non-Employee Directors
Each non-employee member of the Board of Directors of the Company is eligible to receive compensation, for 2005, as follows:
| Annual retainer for each non-employee member of the Board | $5,000 and an option to purchase 10,000 shares of Common Stock of the Company | |
| Annual retainer for serving as the lead outside director | An option to purchase 5,000 shares of Common Stock of the Company | |
| Annual retainer for each non-employee member of Board Committee | $1,000 per Board Committee and an option to purchase 2,000 shares of Common Stock of the Company | |
| Annual retainer for serving as a non-employee Chair of a Board Committee | $1,000 (in addition to the standard Board Committee retainer) and an option to purchase 5,000 shares of Common Stock of the Company (in lieu of the standard Board Committee option) | |
All options to non-employee directors are discretionary grants pursuant to the Company’s 1999 Stock Option Plan.
