Applicable to Named Executive Officers
Exhibit 10.12
SimpleTech, Inc.
Description of Compensatory Arrangements for 2005
Applicable to Named Executive Officers
Set forth below are 2005 annual base pay arrangements applicable to SimpleTech, Inc.’s (the “Company”) current executive officers who will be named in the summary compensation table of the Company’s proxy statement for the 2005 annual meeting of shareholders (“Named Executive Officers”). These arrangements are in addition to the various other compensatory plans, contracts and arrangements in which the Company’s Named Executive Officers participate and which are filed or incorporated by reference as exhibits to this report on Form 10-K for the year ended December 31, 2004.
| Named Executive Officer | Title | 2005 Annual Base Salary | |||
| Manouch Moshayedi | Chief Executive Officer and Chairman of the Board of Directors | $ | 500,000 | ||
| Mike Moshayedi | President | $ | 375,000 | ||
| Mark Moshayedi | Chief Operating Officer, Chief Technical Officer and Secretary | $ | 440,000 | ||
| Dan Moses | Chief Financial Officer | $ | 300,000 | ||
