Directors Compensation Summary Sheet for Non-Employee Directors
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Summary
This document outlines the compensation for non-employee directors of the company. Directors receive an annual retainer paid partly or fully in restricted stock units, with an option for part of it to be paid in cash. They also receive cash fees for attending board and committee meetings, additional cash compensation for serving as committee chairpersons, and annual stock options. The terms specify the amounts and forms of payment, effective after the 2007 Annual Meeting of Stockholders.
EX-10.20 4 exhibit10-20.htm DIRECTORS COMPENSATION SUMMARY SHEET
Exhibit 10.20
DIRECTORS COMPENSATION
Non-employee Directors receive compensation for board service as follows:
| Annual Retainer | · | $65,000, paid in the form of restricted stock units of Common Stock | |
| · | $40,000, paid in the form of restricted stock units of Common Stock or in cash, at the option of the Director* | ||
| Attendance fees—Board meetings | $2,000 in cash, per meeting | ||
| Attendance fees—Committee meetings | $1,500 in cash, per meeting | ||
| Chairperson fees | $10,000 in cash, for Audit Committee | ||
| $5,000 in cash, for Executive Committee, Compensation Committee and Nominating/Corporate Governance Committee | |||
| Other | Options to purchase 5,000 shares of Common Stock per year | ||
* Effective following the Company’s 2007 Annual Meeting of Stockholders.
