Aspect Medical Systems, Inc. Non-Employee Director Cash Compensation Policy

Contract Categories: Human Resources › Compensation Agreements
Summary

Aspect Medical Systems, Inc. outlines the cash compensation paid to its non-employee directors. Directors who are also employees do not receive additional compensation for board service. Non-employee directors receive an annual retainer, additional fees for chairing committees, and payments for attending board and committee meetings, with different amounts based on in-person or telephone attendance. The company also reimburses reasonable travel and out-of-pocket expenses related to board service.

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EX-10.40 3 b53273amexv10w40.txt EX-10.40 CASH COMPENSATION FOR NON-MANAGEMENT DIRECTOR OF ASPECT MEDICAL SYSTEMS, INC. Exhibit 10.40 CASH COMPENSATION FOR NON-MANAGEMENT DIRECTOR OF ASPECT MEDICAL SYSTEMS, INC. No Director who also serves as an employee receives separate compensation for services rendered as a director. Below is a summary of cash compensation that we pay to our non-employee directors:
TYPE OF FEE AMOUNT FOR EACH ----------- ------ -------- Annual retainer $ 10,000 Year of service Audit Committee Chair $ 8,000 Year of service Compensation Committee Chair $ 4,000 Year of service Corporate Governance and Nominating Committee Chair $ 4,000 Year of service Attendance $ 1,500 Board meeting attended in person $ 500 Board meeting attended by conference telephone $ 1,000 Audit committee meeting attended in person $ 500 Audit committee meeting attended by conference telephone $ 1,000 Compensation committee meeting attended in person $ 500 Compensation committee meeting attended by conference telephone $ 1,000 Corporate governance and nominating committee meeting attended in person $ 500 Corporate governance and nominating committee meeting attended by conference telephone
Aspect also reimburses non-employee directors for reasonable travel and out-of-pocket expenses incurred in connection with their service as directors.