EXHIBIT 10.66

 

Summary of Executive Salary and Bonus Arrangements

 

The table below summarizes the current annual salary and bonus arrangements we
have with each of our executive officers, and provides information regarding
salary and bonus amounts earned by each of our executive officers in 2004. All
of the compensation arrangements we have with our executive officers, including
with respect to annual salaries and bonuses, are reviewed and may be modified
from time to time by the Compensation Committee of our Board of Directors. The
Compensation Committee approved the annual salary and bonus arrangements noted
in the table below.

 

We generally pay bonuses, if any, to our executive officers on a quarterly
basis. On February 9, 2005, the Compensation Committee adopted an executive
bonus plan effective beginning January 1, 2005, a description of which is filed
as Exhibit 10.68 to the accompanying Annual Report on Form 10-K. In addition to
the bonus arrangements noted in the table below, all of our executive officers
are eligible for discretionary bonuses as determined from time to time by the
Compensation Committee.

 

We have written or oral employment arrangements with each of our executive
officers, and a copy of each such employment arrangement is filed as an exhibit
to the accompanying Annual Report on Form 10-K. The non-salary and bonus
components of our compensation arrangements with our executive officers,
including with respect to severance, option grants and other benefits, are
described in those respective agreements.

 

Executive Officer

--------------------------------------------------------------------------------

  

Salary

--------------------------------------------------------------------------------

    

Bonus

--------------------------------------------------------------------------------

Frank F. Khulusi

Chairman, President and Chief Executive Officer

  

2005: $800,000

2004: $645,384(2)

    

2005: (1)

2004: $136,907

Theodore R. Sanders

Chief Financial Officer

  

2005: $300,000

2004: $250,349(3)

    

2005: (1)

2004: $43,234

Daniel J. DeVries

Executive Vice President—Marketing

  

2005: $257,500

2004: $257,500

    

2005: (1)

2004: $16,525

Kristin M. Rogers

Executive Vice President—Enterprise Sales

  

2005: $257,500

2004: $257,500

    

2005: (1)

2004: $50,884

Robert I. Newton

General Counsel

  

2005: $250,000

2004: $143,269(5)

    

2005: (4)

2004: $35,134

 

(1)

Messrs. Khulusi, Sanders and DeVries and Ms. Rogers are eligible to participate
in our executive bonus plan, pursuant to which a bonus pool is determined based
upon the achievement of specified quantitative criteria and allocated in the
discretion of the Compensation Committee.

(2)

Mr. Khulusi’s annual base salary was changed, effective October 28, 2004, from
$600,000 to $800,000.

(3)

Mr. Sanders’ annual base salary was changed, effective August 2, 2004, from
$242,050 to $257,500, and is presently $300,000.

(4)

Mr. Newton is eligible for an annual bonus of up to $50,000, as well as for
discretionary bonuses as determined from time to time by the Compensation
Committee.

(5)

Mr. Newton commenced employment with us on June 8, 2004.