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LOOK > SEC Filings for LOOK > Form 8-K on 3-Nov-2008All Recent SEC Filings

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Form 8-K for LOOKSMART LTD


3-Nov-2008

Change in Directors or Principal Officers


Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On October 28, 2008, the Compensation Committee of the Company's Board of Directors approved a 10% promotional salary increase for Mr. Jonathan Ewert, its Senior Vice President and General Manager, Advertising Networks effective October 1, 2008. With the increase, Mr. Ewert's annual base salary is $217,800. Mr. Ewert's annual bonus under the 2008 Executive Team Incentive Plan remains unchanged at 70% of his salary for performance at 100% of Plan target.

On October 28, 2008, the Compensation Committee of the Company's Board of Directors approved a change in bonus percent for Michael Schoen, Vice President and General Manager, Advertising Platforms to reflect additional responsibilities. Effective October 1, 2008, Mr. Schoen's bonus under the Company's 2008 Executive Team Incentive Plan went from 25% to 40% of his base salary for performance at 100% of Plan target.


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