Summary of Annual Non-Management Director Compensation for Allegro MicroSystems, Inc.
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Summary
This document outlines the compensation for non-management directors of Allegro MicroSystems, Inc. Directors who are not employees of the company or its major shareholders receive annual cash retainers, with additional payments for serving as committee chairs or members. Each director also receives an annual grant of restricted stock units valued at $185,000, prorated for those joining mid-year. Directors are reimbursed for reasonable travel expenses related to board meetings.
EX-10.2 2 algm-20221223x10qex102.htm EX-10.2 Document
Exhibit 10.2
Summary of Annual Non-Management Director Compensation
Compensation is made to each member of the Board who is not an employee of the Company, OEP SKNA, L.P. or Sanken Electric Co., Ltd or their respective subsidiaries.
1.Annual Cash Compensation
| Annual Cash Retainer (Other than Chairman of the Board) | $ | 60,000 | |||
| Annual Cash Retainer (Chairman of the Board) | $ | 75,000 | |||
| Additional Cash Retainer for Chair of Audit Committee | $ | 25,000 | |||
| Additional Cash Retainer for Chair of Compensation Committee | $ | 20,000 | |||
| Additional Cash Retainer for Chair of Nominating and Corporate Governance Committee | $ | 10,000 | |||
| Additional Cash Retainer for Chair of Research & Development and Strategy Committee Committee | $ | 10,000 | |||
| Additional Cash Retainer for member of Audit Committee | $ | 10,000 | |||
| Additional Cash Retainer for member of Compensation Committee | $ | 8,500 | |||
| Additional Cash Retainer for member of Nominating and Corporate Governance Committee | $ | 5,000 | |||
| Additional Cash Retainer for member of Research & Development and Strategy Committee | $ | 8,500 | |||
2.Equity Compensation
Each Director serving on the Board as of the date of the Annual Meeting will be granted an award of Restricted Stock Units with a value of $185,000.
Directors elected or appointed to serve on the Board on a date other than the Annual meeting will be granted a prorated award in the first year of service on the Board.
3.Travel Expenses
Directors are reimbursed for reasonable out-of-pocket expenses incurred in attending meetings.
