American Pharmaceutical Partners Non-Employee Director Cash Compensation Program Description
This document outlines the cash compensation program for non-employee directors of American Pharmaceutical Partners, effective January 1, 2005. It specifies the annual cash retainer and meeting fees for board and committee service, including additional compensation for committee chairs and for attending meetings in person or by phone. The program aims to attract and retain qualified non-employee directors through structured cash payments and automatic stock option grants under a separate plan.
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 |
