X0303 4 2009-05-04 0001084332 SALON MEDIA GROUP INC SLNM.OB 0001463523 Gingras Richard 546 COVINGTON ROAD LOS ALTOS CA 94024 1 1 0 0 Chief Executive Officer Common Stock 2009-05-04 4 A 0 110345 0 A 110345 D Options to Purchase Common Stock .20 2009-05-04 4 A 0 1416211 0 A 2010-05-01 2019-05-01 Common Stock 1416211 1416211 D Restricted Stock award granted pursuant to the Salon Media Group, Inc. 2004 Stock Plan. The award will be fully vested and exercisable on January 1, 2010. Additionally, in the event of a change in control of the Issuer, 50% of the then unvested award will automatically vest. In the event that the Reporting Person's employment is terminated for a reason other than cause or he resigns for good reason, any then unvested shares will become vested. Incentive Stock option granted pursuant to the Salon Media Group, Inc. 2004 Stock Plan. The option is exercisable to the extent shares are vested. 25% of the shares subject to the option will vest one year after the first date of employment and 1/48 of the shares subject to the option will vest at the end of each month thereafter, provided that the Reporting Person continues to be employed by or otherwise provides services to the Issuer. Additionally, in the event that the Reporting Person's employment is terminated for a reason other than cause or he resigns for good reason, the shares subject to the option shall vest with respect to 24 months of vesting. In the event of a change in control of the Issuer, 50% of the then unvested shares subject to the option will immediately vest. In the event that the Reporting Person's employment is terminated for a reason other than cause or he resigns for good reason within 3 months before or 12 months after a change of control, any then unvested shares will become immediately vested. /s/Richard Gingras 2009-05-06