AllDigital Holdings, Inc. Board of Directors Compensation Plan (Effective February 11, 2014)
This agreement outlines the compensation plan for independent directors of AllDigital Holdings, Inc. Upon joining the Board, each independent director receives an option to purchase 150,000 shares of company stock at the prior day's closing price and a $5,000 cash payment. On each anniversary of their appointment, directors receive an additional option for 75,000 shares and another $5,000. Stock options vest immediately if there is a change of control. The company also reimburses directors for reasonable expenses related to board and committee meetings.
AllDigital Holdings, Inc.
Board of Directors Compensation Plan
(Effective as of February 11, 2014)
Retainers
Each independent director will receive the following upon initial appointment or election to the Board of Directors of AllDigital Holdings, Inc.:
| ● | An option to purchase 150,000 shares of common stock of AllDigital Holdings, Inc., at an exercise price equal to the closing bid price on the date immediately prior to the appointment date; and subject to accelerated vesting upon a change of control of the company. Otherwise, there are no unique vesting conditions. | |
| ● | A cash payment of $5,000. |
Each independent director serving on the Board of Directors of AllDigital Holdings, Inc. will receive the following upon each annual anniversary of the date he or she was initially appointed or elected date to the Board of Directors of AllDigital Holdings, Inc.:
| ● | An option to purchase 75,000 shares of common stock of AllDigital Holdings, Inc., at an exercise price equal to the closing bid price on the date immediately prior to the applicable anniversary date; and subject to accelerated vesting upon a change of control of the company. Otherwise, there are no unique vesting conditions. | |
| ● | A cash payment of $5,000. |
Meeting Expenses
AllDigital Holdings, Inc. will reimburses all directors for their reasonable and accountable expenses incurred in connection with attending Board of Directors and Committee meetings.
