Gaiam, Inc. Executive Officer Compensation Agreement for Jane Pemberton and Lou Weiss
This agreement outlines the compensation terms for Jane Pemberton and Lou Weiss, executive officers at Gaiam, Inc. It specifies their annual base salaries, eligibility for performance-based bonuses, and additional benefits such as stock options, moving expenses, and housing allowances. Jane Pemberton is entitled to a guaranteed bonus in her first year, reimbursement for moving expenses, a housing allowance, and severance if terminated without cause. Lou Weiss is guaranteed a minimum quarterly bonus for a specified period and received a bonus upon a company acquisition. Both are eligible for stock options based on company performance.
Exhibit 10.14
Gaiam, Inc.
Executive Officer Compensation
| Name |
| Title |
| Annual Base Salary | |
| Jane Pemberton |
| President of GT Media and Gaiam Trade Decision |
| $ | 300,000 |
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| Lou Weiss |
| President of Direct, GT Media |
| $ | 285,000 |
Ms. Pemberton will receive a bonus of $150,000 during her first year of service, to be paid in equal installments on May 1, 2007 and December 1, 2007. Thereafter, she may receive a bonus of up to 50% of salary, with the award being determined by reference to a matrix of possible performance levels based on Gaiam’s achievement of revenue and pre-tax earnings objectives under Gaiam’s financial plan. Ms. Pemberton will also be reimbursed for up to $25,000 of moving expenses, she will receive a monthly housing/cost of living allowance of $5,000, and she received options to purchase 75,000 shares of Gaiam Class A common stock. Ms. Pemberton will be entitled to a severance payment of $60,000 if terminated without cause.
Mr. Weiss may receive a bonus of up to 50% of salary, with the award being determined by reference to a matrix of possible performance levels based on Gaiam’s achievement of revenue and pre-tax earnings objectives under Gaiam’s financial plan. Mr. Weiss’ bonus for the 12 months ending September 30, 2006 is guaranteed to be at least $27,500 quarterly. In addition, Mr. Weiss received a bonus of $25,000 upon the closing of Gaiam’s acquisition of certain assets of GoodTimes Entertainment and options to purchase 75,000 shares of Gaiam Class A common stock.
