Napster, Inc. Executive Compensation Summary for Named Executive Officers (2008)
Napster, Inc. outlines the compensation arrangements for its executive officers, including the Chairman/CEO, President, Vice President of Finance/Interim CFO, and COO. The agreement specifies their annual base salaries, with no guaranteed annual bonuses; any bonuses are awarded at the discretion of the Compensation Committee. Executives may also participate in company benefit plans and receive additional perks as disclosed in company filings. These terms apply to the executives listed in the company's 2008 proxy statement.
Exhibit 10.30
NAPSTER, INC.
SUMMARY OF COMPENSATION ARRANGEMENTS FOR
EXECUTIVE OFFICERS
Base Salaries. Following are the current annual base salary rates for the executive officers of Napster, Inc. (the “Company”) who will appear in the Summary Compensation Table included in the Company’s proxy statement to be filed with the Securities and Exchange Commission for the Company’s 2008 Annual Meeting of Stockholders and who are currently employed by the Company (the “Named Executive Officers”):
| Named Executive Officer | Title | Annual Base Salary | |||
| Wm. Christopher Gorog | Chairman of the Board and Chief Executive Officer | $ | 625,000 | ||
| Bradford D. Duea | President | $ | 300,000 | ||
| Suzanne M. Colvin | Vice President, Finance and Interim Chief Financial Officer | $ | 300,000 | ||
| Christopher Allen | Chief Operating Officer | $ | 315,000 | ||
Bonuses. None of the Named Executive Officers are entitled to a pre-set fixed minimum or formulaic annual bonus. Instead, any annual bonuses for the Named Executive Officers are determined in the discretion of the Compensation Committee of the Company’s Board of Directors.
Additional Compensation. The Named Executive Officers are also entitled to participate in various Company plans, and are subject to other written agreements, in each case as set forth in exhibits to the Company’s filings with the Securities and Exchange Commission. In addition, the Named Executive Officers may be eligible to receive perquisites and other personal benefits as disclosed in the Company’s proxy statements filed with the Securities and Exchange Commission in connection with the Company’s annual meetings of stockholders.
