Document:

Exhibit
10.26

 

Summary of
Certain Director and Executive Compensation

 

Executive Officers

 

Fourth quarter bonuses and options

 

Interactive Intelligence, Inc. (the “Company”)
paid bonuses to Donald E. Brown, President and Chief Executive Officer and
Stephen R. Head, Chief Financial Officer and Vice President, Finance and
Administration, of $50,000 and $12,500, respectively, on January 31, 2005
related to the Company’s fourth quarter earnings results.  Gary R. Blough, Executive Vice President,
Worldwide Sales, Jeremiah J. Fleming, President, Vonexus and Pamela J. Hynes,
Vice President, Customer Services earned a bonus of $48,490, $47,823 and
$15,000, respectively, pursuant to established bonus and commission plans.  Ms. Hynes was paid on January 31, 2005
and Messrs. Blough and Fleming will be paid in February and March of
2005.  In addition, Dr. Brown, Mr.
Blough, Mr. Head and Ms. Hynes were each granted an option to purchase 15,000,
12,700, 6,250 and 10,000 shares of the Company’s common stock,
respectively.  The options were and were
granted based upon the Company’s fourth quarter or annual results and were
approved by the Compensation Committee of the Company’s Board of Directors on February 17,
2005 with the option exercise price equal to the closing price on that day.

 

2005 Compensation

 

On February 17, 2005, the Compensation
Committee of the Board of Directors of the Company approved compensation
arrangements for the Company’s executive officers beginning January 1,
2005.  Base compensation for the Company’s
executive officers are as follows: 
Donald E. Brown, $300,000; Gary R. Blough, $200,000; Jeremiah J.
Fleming, $200,000; Stephen R. Head, $200,000; Pamela J. Hynes, $140,000; and
Joseph A. Staples, Senior Vice President, Marketing, $185,000.

 

Dr. Brown, Mr. Head, Ms. Hynes and Mr.
Staples are also eligible for a Company Performance Bonus, which is dependent
on the Company achieving certain levels of quarterly financial operating
results and payable quarterly in the amount of $37,500, $12,500, $2,500 and $10,000,
respectively, or any portion thereof as determined by the Company’s
Compensation Committee.  Mr. Fleming is
also eligible for a Company Performance Bonus, which is dependent on Vonexus
achieving certain levels of quarterly financial operating results and payable
quarterly in the amount of $10,000 or any portion thereof as determined by the
Company’s Compensation Committee.

 

Messrs. Blough and Fleming are also eligible
for monthly, quarterly and/or annual commission bonuses that are tied to the
areas over which they are responsible. 
Mr. Blough is eligible to earn a commission based upon worldwide
contracted licenses and services.  Mr.
Fleming is eligible to earn a commission based on Vonexus performance.

 

Ms. Hynes and Mr. Staples are eligible for a
quarterly bonus of up to $7,500 and $10,000, respectively, or any portion
thereof as determined by the Company’s Compensation Committee, based on
completion of pre-determined management based objectives and in addition, for
Ms. Hynes, operating income from services over which she is responsible.

 

Certain executives are eligible for a
Superior Achievement Bonus based on the Company exceeding its operating income
targets.  This bonus is awarded as a
percentage of the Company’s operating income achieved above the target.  Dr. Brown is eligible for 5%, Mr. Head 2.5%,
Ms. Hynes 1% and Mr. Staples 1%.  Mr.
Fleming is eligible for 5% of the operating income of Vonexus.

 

Dr. Brown, Messrs. Blough, Fleming and Head,
Ms. Hynes and Mr. Staples are eligible to receive grants of incentive stock
options on an annual basis of up to 48,000, 35,000, 40,000, 20,000, 15,000, and
25,000 shares, respectively.  These
option grants are based on the Company’s performance, Vonexus performance
and/or sales quotas, depending on the individual executive’s role within the
Company.  The options may be granted in
full or in partial amounts according to the discretion of the Compensation
Committee and the option exercise price equal to the closing price of the
Company’s stock as of the date they are approved by the Compensation Committee.

 

 

Board of Directors

 

2005 Compensation

 

Non-employees serving as members of the
Company’s Board of Directors receive an annual retainer of $10,000, payable in
quarterly installments, in connection with membership on the Company’s Board of
Directors.  In addition, each member
receives $1,000 for attending in person and $500 for attending by telephone any
meeting of the Board of Directors or any meeting of a committee of the Board of
Directors that is not held in conjunction with a meeting of the full Board of
Directors.  An additional fee of $5,000
per year, payable in quarterly installments, is paid (effective January 1,
2005) to the Chairman of the Audit Committee of the Board of Directors and
$1,000 per year, payable in quarterly installments, is paid to each other
member of the Audit Committee. Directors are entitled to reimbursement of
expenses incurred in connection with attendance at Board and committee
meetings.

 

Non-employees serving as members of the
Company’s Board of Directors are eligible to receive stock option grants under
the Company’s Outside Directors Stock Option Plan.

 

Full-time officers of the Company or its
subsidiaries do not receive additional compensation for serving as members of
the Boards of Directors of the Company or its subsidiaries.  No additional compensation is paid if a
full-time officer serves on any committee of such Boards of Directors.Exhibit 10.20

 

 

Compensation
Arrangements for Named Executive Officers and Directors

 

 

                                                Compensation of Officers

 

Set forth below is a summary
of the compensation paid by InsWeb Corporation (the “Company”) to its named
executive officers (defined in Regulation S-K Item 402(a)(3)) in
their current positions as of the date of filing of the Company’s Annual Report
on Form 10-K for the year ended December 31, 2004 (the “Form 10-K”). All
of the Company’s executive officers are at-will employees whose compensation
and employment status may be changed at any time at the discretion of the
Company’s Board of Directors, subject only to the terms of the Executive Retention and Severance Plan between the
Company and these executive officers, the form of which is filed as
Exhibit 10.16 to the Form 10-K.

 

Base
Salary. Effective January 1, 2005, the named executive officers are
scheduled to receive the following annual base salaries in their current
positions (the same base salaries as in 2004):

 

	
  Name and Current Position

  	
   

  	
  Base Salary ($)

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Hussein A. Enan

  	
   

  	
  $

  	
  250,000

  	
   

  
	
  (Chairman and Chief Executive Officer)

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  William D. Griffin

  	
   

  	
  $

  	
  208,000

  	
   

  
	
  (Chief Financial Officer)

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  L. Eric Loewe

  	
   

  	
  $

  	
  182,000

  	
   

  
	
  (Senior Vice President, General Counsel and Secretary)

  	
   

  	
   

  	
   

  
						

 

Annual and
Long-Term Incentive Plans. In their current positions,
the named executive officers are eligible to:

 

	
   

  	
  •  

  	
  The annual incentive
  compensation component applies to key managers above a certain salary grade,
  including the CFO and General Counsel and Secretary, but excluding the
  Chairman and CEO.  For each profitable
  quarter in 2005, an incentive compensation pool is calculated based on the
  amount of profitability. The CFO and the General Counsel and Secretary each
  would receive approximately 13% of the pool, although their percentage could
  increase or decrease based on the number of other participants in the pool at
  the time of payout.

  	
   

  	 

	
   

  
	
   

  	
  •  

  	
  To further align the
  compensation of the executive officers with increased shareholder value, on
  February 15, 2005, the Board of Directors approved option grants of 150,000
  options to the Chairman and CEO, and 25,000 to both the CFO and the General
  Counsel and Secretary, all grants pursuant to the Company’s 1997 Stock Option
  Plan (filed as Exhibit 10.2 to the Form 10-K).

  	
   

  	 

 

Benefit
Plans and Other Arrangements. In their current positions,
the named executive officers are eligible to:

 

	
   

  	
  •  

  	
  Participate in the Company’s
  broad-based benefit programs generally available to its salaried employees,
  including health, disability and life insurance programs and the qualified
  401(k) savings plan.

  	
   

  

 

 

                                                Compensation of Directors

 

                Each
non-employee director receives an annual retainer of $30,000 payable on a
quarterly basis, and fees of $2,500 for each regularly scheduled Board meeting
attended. The chairman of the Audit Committee will receive an additional fee of
$2,500 for each regularly scheduled Audit Committee meeting attended. The
annual retainer relates to the twelve-month period from April 2004
through March 2005. In addition, each director will be reimbursed for
reasonable expenses incurred in attending meetings of the Board.

 

                All
directors receive an annual grant of options to purchase 5,000 shares, with the
date of grant being on or about July 1 of each year that they serve. All
options granted to directors are fully vested and exercisable at the time of
grant. The per-share exercise price of each such option will equal the fair
market value of a share of Common Stock on the date of grant. Options granted
to directors have a term of ten years from the date of grant.EXHIBIT
4.44

 

AMENDMENT NO. 2 to SECURITY AGREEMENT

 

This Security Pledge Amendment, dated as of March     ,
2005, is delivered pursuant to Section 5.1 of that certain security
agreement (as amended, amended and restated, supplemented or otherwise modified
from time to time, the “Security Agreement”; capitalized terms used but
not otherwise defined herein shall have the meanings assigned to such terms in
the Security Agreement), dated as of February 8, 2002, among Gameco, Inc. (the “Issuer”),
the undersigned, the other Guarantors from time to time party thereto and Wells
Fargo Bank, National Association, as Trustee (in such capacity and together
with any successors in such capacity, the “Trustee”).  The undersigned hereby agrees that this
Pledge Amendment may be attached to the Security Agreement and that the Pledged
Securities and/or Intercompany Notes listed on this Pledge Amendment shall be
deemed to be and shall become part of the Pledged Collateral and shall secure
all Secured Obligations.

 

This Pledge Amendment shall be governed by and construed in
accordance with the laws of the State of New York, as applied to contracts made
and performed within the State of New York, without regard to principles of
conflicts of law.  The undersigned agrees
to submit to the jurisdiction of the courts of the State of New York in any
action or proceeding arising out of or relating to this Pledge Amendment.

 

PLEDGED SECURITIES

 

	
  ISSUER

  	
   

  	
  CLASS

  OF STOCK

  OR

  INTERESTS

  	
   

  	
  CERTIFICATE

  NO(S).

  	
   

  	
  PERCENTAGE OF ALL

  ISSUED CAPITAL OR

  OTHER EQUITY

  INTERESTS OF ISSUER

  	
   

  
	
  Jalou Breaux
  Bridge, LLC

  	
   

  	
  Membership Interests

  	
   

  	
  1

  	
   

  	
  100

  	
  %

  
	
  Jalou
  Eunice, LLC        

  	
   

  	
  Membership Interests

  	
   

  	
  1

  	
   

  	
  100

  	
  %

  
	
  Jalou of
  Jefferson, LLC

  	
   

  	
  Membership Interests

  	
   

  	
  1

  	
   

  	
  100

  	
  %

  

 

INTERCOMPANY NOTES

 

	
  ISSUER

  	
   

  	
  PRINCIPAL

  AMOUNT

  	
   

  	
  DATE OF

  ISSUANCE

  	
   

  	
  INTEREST

  RATE

  	
   

  	
  MATURITY

  DATE

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  None

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

 

	
   

  	
  JALOU, LLC, a Louisiana limited liability

  company, as Pledgor

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Ian M. Stewart

  	
   

  
	
   

  	
   

  	
  Ian M. Stewart

  
	
   

  	
   

  	
  President and Manager

  
	
   

  	
   

  	
   

  
	
  AGREED TO AND ACCEPTED:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Joseph P. O’Donnell

  	
   

  	
   

  	
   

  
	
   

  	
  Name: Joseph P. O’Donnell

  	
   

  	
   

  
	
   

  	
  Title: Assistant Vice President

  	
   

  	
   

  
						

 

2

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