Summary of Board of Directors Compensation as of August 16, 2013
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Summary
This document outlines the compensation structure for the company's Board of Directors as of August 16, 2013. Board members receive annual cash retainers, with additional amounts for serving as Board Chair or as chairs or members of various committees. Directors also receive equity grants, with specific vesting schedules tied to annual meetings. The agreement details the amounts and conditions for both cash and equity compensation for board service.
EX-10.19 2 exh1019sumboardcompensatio.htm EXHIBIT 10.19 EXH1019SUMBOARDCOMPENSATIONRev
Exhibit 10.19
Summary of Board of Directors Compensation as of August 16, 2013
Compensation Element | Annual Amount | ||||
Cash Compensation | |||||
Annual Board Member Retainer | $18,000 | ||||
Board Chair Retainer (Additional) | $12,000 | ||||
Committee Chair Retainers | |||||
Audit | $6,000 | ||||
Compensation | $6,000 | ||||
Nominating and Corporate Governance | $4,000 | ||||
Strategy & Acquisition | $4,000 | ||||
Committee Member Retainers | |||||
Audit | $4,000 | ||||
Compensation | $2,000 | ||||
Nominating and Corporate Governance Committee | $1,000 | ||||
Strategy & Acquisition Committee | $1,000 | ||||
Equity Compensation | |||||
Initial Equity Grant | 10,000 shares (1) | ||||
Annual Equity Grant | 6,000 shares (2) | ||||
(1) | 50% vests at first annual meeting of stockholders following |
appointment and 50% vests at second annual meeting of stockholders
following appointment.
(2) | 100% vests at next annual meeting of stockholders. |
