Document:

Exhibit
10.15

 

Gaiam,
Inc.

Nonemployee
Director Compensation

 

	
  Event

  	
   

  	
  Compensation

  	
   

  
	
  Meeting Fee

  	
   

  	
  $3,000 per meeting

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Telephonic Meeting Fee

  	
   

  	
  $1,000 per meeting

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Committee Meeting Fee

  	
   

  	
  $500 per meeting

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Committee Telephonic Meeting Fee

  	
   

  	
  $250 per meeting

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Standing Committee Chairman’s Fee

  	
   

  	
  $2,000 annuallyExhibit 10.29

 

Description
of Compensation of Non-Employee Trustees

 

Each Trustee who is not also an officer and full-time employee of
Corporate Office Properties Trust (the “Company”) receives the fees set forth
in the table below until changed by the Board of Trustees:

 

	
  Annual trustee fee

  	
   

  	
  $

  	
  25,000

  	
   

  
	
  Annual committee chairman fees

  	
   

  	
   

  	
   

  
	
  Audit committee

  	
   

  	
  9,000

  	
   

  
	
  Compensation committee

  	
   

  	
  6,000

  	
   

  
	
  Investment committee

  	
   

  	
  7,500

  	
   

  
	
  Nominating/corporate governance

  	
   

  	
  4,000

  	
   

  
	
  Board meeting fees

  	
   

  	
  1,000

  	
   

  
	
  Committee meeting fees

  	
   

  	
  1,000

  	
   

  

 

The members of the Board of Trustees are also eligible for
reimbursement for travel and lodging expenses incurred in connection with
attendance at Board and committee meetings. In addition, until changed by the
Board of Trustees, all non-employee Trustees will receive an annual grant of
5,000 options to purchase the Company’s common shares of beneficial interest at
an exercise price equal to the fair market value on the date of grant; this
grant takes place on the day of the Company’s annual meeting of shareholders. These
options vest 100% one year from the date of grant.Exhibit 10.30

 

Description
of annual cash incentive awards to executives

 

The
Compensation Committee of the Board of Trustees (the “Compensation Committee”)
of Corporate Office Properties Trust (the “Company”) considers the award of
annual cash incentive awards designed to correlate executive compensation to
the overall performance of the Company and to the performance of each executive’s
specific business unit.

 

The
Compensation Committee establishes target performance levels for the Company in
general and for the business units specifically by using peer groups’ bonus
information, along with a summary of the objectives for the Company and its
business units. The Committee then establishes annual cash incentive award
targets based on different thresholds of performance in meeting the performance
levels.

 

The
Committee uses the median bonus level for executive positions in the REIT peer
groups as a guideline for determining a Company executive’s target bonus to be
awarded if the Company and the executive’s business unit meet target
performance levels. Each executive may generally earn up to an established
maximum percentage of his or her annual salary if higher-than-target
performance levels are achieved, and will generally receive less than the
target bonus if the target performance levels are not met, although bonuses
could not be paid at all if a defined minimum performance level is not met.

 

The
measures used in defining overall Company performance objectives for
determining bonuses are diluted funds from operations per share and diluted
adjusted funds from operations per share (both of which are measurements used
by equity REITs to evaluate financial performance).  The measures used in
defining business unit performance are tailored to apply to the nature of each
business unit’s operations.  The measures used in computing the bonus of
the Chief Executive Officer include only overall Company performance measures.
 The measures used in computing the bonuses of the other executives
include overall Company performance measures as well as measures applicable to
each executive’s business unit.

 

The
Compensation Committee has the discretion to award higher or lower annual cash
incentive awards to executives relative to amounts computed in accordance with
the methodology set forth above.Exhibit 10.38

 

Summary of Unwritten Compensation Arrangements

Applicable to Named Executive Officers of Overstock.com, Inc.

 

The
Compensation Committee (the “Committee”) of the Board of Directors of
Overstock.com, Inc. (the “Company”) oversees and reviews the Company’s
executive compensation policies and programs and approves the form and amount
of compensation to be paid to the Company’s executive officers.

 

Annual Compensation—Base salaries and bonuses

 

The
Company is not a party to any written employment agreement with any of its
named executive officers.

 

The
Company pays each of its named executive officers (as defined in Item 402(a)(3) of
Regulation S-K), other than its President and chief executive officer,
base salaries at the annual rate of $100,000. The Company does not pay its
President and chief executive officer, Patrick M. Byrne, any base salary.

 

On
January 23, 2006, the Committee approved bonus payments to the named
executive officers as a result of the officers’ performance in 2005 as follows:

 

	
  Name
  and Title

  	
   

  	
  Bonus

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Stephen Tryon, Senior Vice President

  	
   

  	
  $

  	
  250,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Jonathan E. Johnson III, Senior Vice
  President, Corporate Affairs and Legal

  	
   

  	
  $

  	
  250,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  David Chidester, Senior Vice President,
  Finance

  	
   

  	
  $

  	
  250,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Russell (Tad) Martin, Senior Vice President
  of Merchandising and Operations

  	
   

  	
  $

  	
  250,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Kamille Twomey, Senior Vice President,
  Marketing

  	
   

  	
  $

  	
  250,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Stormy Simon, Senior Vice President, BMV
  and Off-Line Advertising

  	
   

  	
  $

  	
  250,000

  	
   

  

 

The
President of the Company, Dr. Patrick M. Byrne, is a named executive
officer, but declined to accept any bonus payment relating to 2005.

 

The
Compensation Committee did not take any action with respect to the 2006 base
salaries of any of the named executive officers.  The Company intends to
continue to pay base salaries to its named executive officers at their
respective 2005 base salary rates, subject to changes, if any, approved by the
Compensation Committee.

 

 

On
January 23, 2006 the Board and Compensation Committee also adopted the
Overstock.com Performance Share Plan and approved grants to executive officers
of the Company, including the named executive officers (as defined in Item
402(a)(3) of Regulation S-K) of the Company, as follows:

 

	
  Name
  and Title

  	
   

  	
  Number of

  Performance

  Shares

  Granted

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Patrick Byrne, President

  	
   

  	
  —

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Stephen Tryon, Senior Vice President

  	
   

  	
  10,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Jonathan E. Johnson III, Senior Vice
  President, Corporate Affairs and Legal

  	
   

  	
  14,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  David Chidester, Senior Vice President,
  Finance

  	
   

  	
  10,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Russell (Tad) Martin, Senior Vice President
  of Merchandising and Operations

  	
   

  	
  10,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Kamille Twomey, Senior Vice President,
  Marketing

  	
   

  	
  15,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Stormy Simon, Senior Vice President, BMV
  and Off-Line Advertising

  	
   

  	
  15,000

  	
   

  

 

Long Term Incentive Awards—Stock option awards

 

The
Company maintains its 2005 Equity Incentive Plan, under which the Committee and
the Board have the power to grant options and other awards to employees,
including the named executive officers. No options or other awards were been
made during 2005 to any named executive officer except as set forth below, and
no plan or arrangement exists at March 10, 2006 regarding future grants to
any named executive officer. During 2005, option grants were made to the
persons who are now named executive officers of the Company as follows: 

 

	
  Name
  and Title

  	
   

  	
  Number of

  Options

  Granted

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Patrick Byrne, President

  	
   

  	
  —

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Stephen Tryon, Senior Vice President

  	
   

  	
  —

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Jonathan E. Johnson III, Senior Vice
  President, Corporate Affairs and Legal

  	
   

  	
  —

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  David Chidester, Senior Vice President,
  Finance

  	
   

  	
  —

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Russell (Tad) Martin, Senior Vice President
  of Merchandising and Operations

  	
   

  	
  —

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Kamille Twomey, Senior Vice President,
  Marketing

  	
   

  	
  10,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Stormy Simon, Senior Vice President, BMV
  and Off-Line Advertising

  	
   

  	
  10,000

  	
   

  

 

All
of the stock options granted have an exercise price per share of $58.30, which
was the last sales price of the Company’s common stock on the Nasdaq National
Market System on the date of grant.

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