Supplemental Compensation Arrangement between Liberate Technologies and Philip A. Vachon
Liberate Technologies has approved a supplemental compensation arrangement for executive officer Philip A. Vachon related to his foreign assignment. Mr. Vachon will receive a one-time payment of about $84,000 for relocation and foreign living expenses, including a tax gross-up, for costs incurred through October 31, 2004. He will also receive ongoing monthly payments of $12,000, in addition to his salary, to cover continued foreign living and related expenses, also including a tax gross-up. These monthly payments will continue as long as he remains on his foreign assignment or until the arrangement is changed by the Compensation Committee.
EXHIBIT 10.79
Description of Supplemental Compensation Arrangement with Philip A. Vachon
On November 4, 2004, the Compensation Committee of Liberate Technologies approved a supplemental compensation arrangement for Philip A. Vachon, an executive officer of Liberate, in connection with his foreign assignment. The arrangement is composed of: (1) a one-time payment of approximately $84,000 for relocation and certain other foreign living and related expenses incurred through October 31, 2004 (including a tax gross-up); and (2) ongoing monthly payments of $12,000, in addition to his salary, to cover foreign living and related expenses (including a tax gross-up). The monthly payments will continue so long as Mr. Vachon remains on his foreign assignment or until the Compensation Committee approves a change to the arrangement.
