Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
As of June 1, 2009, the salaries of the named executive officers of LookSmart,
Ltd. (the "Company") have been reduced by 10%.
If such named executive officer agrees to voluntarily accept such reduction and
agrees that such reduction does not constitute "Good Reason", as defined in such
agreements, such salary reduction shall be ignored for purposes of any payment
calculation under a named executive officer's existing change of
control/severance agreement.
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