SimpleTech, Inc. 2005 Executive Officer Compensation Arrangements
SimpleTech, Inc. has established the 2005 annual base salaries for its executive officers, including the CEO, President, COO/CTO/Secretary, and CFO. The agreement outlines the specific base salary amounts for each named executive officer for the year 2005. These arrangements are in addition to other compensation plans and contracts already in place for these officers. The document does not specify additional terms, conditions, or time limits beyond the annual salary figures.
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 | ||
