Summary of Unwritten Compensation Arrangements for Non-Employee Directors of Overstock.com, Inc.
Overstock.com, Inc. provides its non-employee directors with an annual payment of $20,000, paid quarterly, and reimburses them for expenses related to Board and committee meetings. Additionally, Mr. Lindsey receives $25,000 per year for consulting services. The company also operates a 2005 Equity Incentive Plan, allowing the Board to grant stock options and other awards to directors. In 2005, several directors received stock options with specified grant dates, exercise prices, and amounts.
Exhibit 10.39
Summary of Unwritten Compensation Arrangements
Applicable to Non-Employee Directors of Overstock.com, Inc.
Overstock.com, Inc. (the “Company”) pays its non-employee directors $20,000 annually at the rate of $5,000 per quarter, and reimburses its non-employee directors for out-of-pocket expenses incurred in connection with attending Board and committee meetings. In addition, the Company pays Mr. Lindsey $25,000 per year for consulting services.
The Company maintains its 2005 Equity Incentive Plan, under which the Board of Directors has the power to grant options and other awards to members of the Board. During 2005 the Board granted options to non-employee directors as follows:
| Name |
| Grant Date |
| Exercise |
| Number of |
|
| John J. Byrne |
| April 26, 2005 |
| 35.27 |
| 5,000 |
|
| Gordon Macklin |
| April 26, 2005 |
| 35.27 |
| 5,000 |
|
| Allison Abraham |
| April 26, 2005 |
| 35.27 |
| 5,000 |
|
| John Fisher |
| April 26, 2005 |
| 35.27 |
| 5,000 |
|
| Jason Lindsey |
| October 25, 2005 |
| 35.41 |
| 15,000 |
|
| Ray Groves |
| October 25, 2005 |
| 35.41 |
| 15,000 |
|
