Adept Technology, Inc. Summary of Non-Employee Director Compensation
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Summary
This document outlines the compensation for non-employee directors of Adept Technology, Inc. Each non-employee director receives an annual retainer of $10,000, a $1,000 fee for each board meeting attended, and equity compensation under the 2004 Director Option Plan. Additionally, new non-employee directors are granted an initial option for 10,000 shares of Adept common stock. The chairman of the Audit Committee receives an extra $5,000. These terms specify the compensation structure for board service.
EX-10.5 6 a4844118ex105.txt ADEPT TECHNOLOGY, INC. EXHIBIT 10.5 Exhibit 10.5 Summary of Non-Employee Director Compensation --------------------------------------------- - -------------------------------------------------------------------------------- Non-Employee Fee Per Board Equity Director Annual Retainer Meeting Attended Compensation Other - -------------------------------------------------------------------------------- Ronald E.F. Codd $10,000 $1000 * $5000 for service as chairman of Audit Committee - -------------------------------------------------------------------------------- Michael P. Kelly $10,000 $1000 * - -------------------------------------------------------------------------------- Robert J. Majteles $10,000 $1000 * - -------------------------------------------------------------------------------- Cary R. Mock. $10,000 $1000 * - -------------------------------------------------------------------------------- *Per 2004 Director Option Plan. Any non-employee director joining the Adept Technology, Inc. Board of Directors shall be entitled to an initial option grant for 10,000 shares of Adept common stock in addition to the equity and cash compensation described above.
