Current assets
EX-10.1 3 k46892exv10w1.htm EX-10.1 EX-10.1
EXHIBIT 10.1
ARCADIA RESOURCES, INC.
BOARD OF DIRECTOR COMPENSATION
FOR OCTOBER 1, 2008 TO SEPTEMBER 30, 2009
BOARD OF DIRECTOR COMPENSATION
FOR OCTOBER 1, 2008 TO SEPTEMBER 30, 2009
Approved on November 5, 2008
Annual Board Retainer (Per Director): | $ | 25,000 | ||
Board Meeting Fee (Per Director Per Meeting) | $ | 1,500 | ||
Annual Committee Chair Retainers: | ||||
— Audit Committee Chair | $ | 15,000 | ||
— Compensation Committee Chair | $ | 10,000 | ||
— Nominating & Governance Committee Chair | $ | 10,000 | ||
Annual Audit Committee Member Retainer (Per Member): | $ | 5,000 | ||
Committee Meeting Fee (Per Director Per Meeting) | $ | 1,000 | ||
Compensation for Meetings on Special Matters (One Time Payment Per Director) | $ | 5,000 | ||
Reimbursement for Travel Expenses: | As Incurred | |||
The above-referenced compensation arrangements are for outside non-employed directors only. The total annual fee for Board and Committee meeting attendance may be lower or higher for certain Board members depending on committee assignments.
| • | Forty percent (40%) of the compensation will be payable in options to purchase shares of the Company’s common stock, with the number of options to be granted determined by the Black-Sholes or other modeling technique. Options will vest quarterly and are subject to forfeiture per existing director compensation agreements. | ||
| • | Sixty percent (60%) of the compensation will be payable in cash. The cash will be paid in two equal installments on March 31, 2009 and September 30, 2009. |
