Annual Amount
EX-10.3 3 adepex103q12013.htm EXHIBIT 10.3 ADEPEX10.3Q12013
Summary of Board of Directors Compensation (as of November 9, 2012) Exhibit 10.3
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 Committee (if also serving as Chairman of the Board, receives member fee instead) | $4,000 | |||
Strategy & Acquisition Committee | --(1) | |||
Committee Member Retainers | ||||
Audit | $4,000 | |||
Compensation | $2,000 | |||
Nominating and Corporate Governance Committee | $1,000 | |||
Strategy & Acquisition Committee | $1,000 | (1) | ||
Equity Compensation | ||||
Initial Equity Grant | No change(2) | |||
Annual Equity Grant | No change(3) | |||
(1) | Michael Kelly waived Chair and member compensation for |
service on the Strategy & Acquisition Committee at the time
of his appointment.
of his appointment.
(2) | 50% vests at first annual meeting of stockholders following |
appointment and 50% vests at second annual meeting of stockholders
following appointment.
(3) | 100% vests at next annual meeting of stockholders. |
