Summary of Non-Employee Director Compensation
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EX-10.38 2 dex1038.htm SUMMARY OF NON-EMPLOYEE DIRECTOR COMPENSATION Summary of Non-employee Director Compensation
Exhibit 10.38
Summary of Non-Employee Director Compensation
| Annual | Fee per Board Meeting Attended | ||||||||||||
| Non-Employee Director | In Person | By Telephone | Annual Equity Compensation (1) | Other | |||||||||
| Michael P. Kelly (Chair) | $ | 30,000 | $ | 1,000 | $ | 500 | Option to purchase 3,000 shares of Adept Common Stock | ||||||
| Charles H. Finnie (2) | $ | 20,000 | $ | 1,000 | $ | 500 | Option to purchase 3,000 shares of Adept Common Stock | ||||||
| A. Richard Juelis | $ | 20,000 | $ | 1,000 | $ | 500 | Option to purchase 3,000 shares of Adept Common Stock | $5,000 for service as chair of Audit Committee | |||||
| Robert J. Majteles | $ | 20,000 | $ | 1,000 | $ | 500 | Option to purchase 3,000 shares of Adept Common Stock | ||||||
| Herbert J. Martin (3) | $ | 20,000 | $ | 1,000 | $ | 500 | Option to purchase 3,000 shares of Adept Common Stock | ||||||
| Cary Mock | $ | 20,000 | $ | 1,000 | $ | 500 | Option to purchase 3,000 shares of Adept Common Stock | ||||||
| (1) | 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 of 10,000 shares of Adept common stock in addition to the equity and cash compensation described above.
| (2) | Mr. Finnie joined the Board of Directors in June 2006, the last month of Adept’s fiscal year. |
| (3) | Mr. Martin joined the Board of Directors in May 2006, the next to last month of Adept’s fiscal year. |
