Ritz Interactive, Inc. Director Compensation Summary

Summary

Ritz Interactive, Inc. outlines the compensation for its independent directors, including annual cash retainers and committee fees, reimbursement for meeting expenses, and stock option grants. New independent directors receive an option to purchase 30,000 shares, vesting over four years, while continuing directors receive an option for 7,500 shares after one year of service, vesting after one year. The agreement specifies the amounts paid for various committee roles and ensures directors are reimbursed for reasonable expenses related to board and committee meetings.

EX-10.15 14 a12343orexv10w15.txt EXHIBIT 10.15 EXHIBIT 10.15 DIRECTOR COMPENSATION SUMMARY Ritz Interactive, Inc. (the "Company") currently pays the following cash compensation to its independent directors: an annual retainer of $15,000; an annual fee to its audit committee chairman of $7,500; an annual fee to its audit committee members, other than the chairman, of $4,000; annual fees of $4,000 to each of the chairmen of its nominating and governance committee and its compensation committee; and annual fees to members of its nominating and governance committee and its compensation committee, other than the chairmen, of $2,500. The Company also reimburses its non-employee directors for all reasonable out-of-pocket expenses incurred to attend meetings of the Company's board of directors or its committees. In addition, the Company provides the following equity compensation to its independent directors: to each new independent director, an option to purchase 30,000 shares of its common stock, with 25% vesting on the grant date and 25% vesting on each of the following three anniversaries of the grant date; and to each continuing director, after one year of service, an option to purchase 7,500 shares of the Company's common stock, with 100% vesting on the first anniversary of the grant date.