DESCRIPTION OF NON-EMPLOYEE DIRECTOR CASH COMPENSATION PROGRAM
EXHIBIT 10.25
DESCRIPTION OF NON-EMPLOYEE DIRECTOR CASH COMPENSATION PROGRAM
Purpose:
The purpose of the Program is to enhance the ability of the Company to attract and retain directors who are not Employees (each, a “Non-Employee Director”) through cash compensation and, pursuant to the 2001 Non-Employee Director Option Program, automatic grants of options.
Cash Compensation:
Effective January 1, 2005, the non-employee directors cash compensation for service on the board of directors of American Pharmaceutical Partners is as follows:
| Board Cash Retainer | $ | 20,000 | |
| Board Fees – in person | $ | 2,500 | |
| Board Fees – telephonic | $ | 500 | |
| Audit Committee Chair Retainer | $ | 5,000 | |
| Audit Committee Fees – in person | $ | 2,000 | |
| Audit Committee Fees – telephonic | $ | 500 | |
| Compensation Committee Fees – in person | $ | 1,000 | |
| Compensation Committee Fees – telephonic | $ | 500 |
