Axcelis Technologies, Inc. Non-Employee Director Cash Compensation Schedule (March 1, 2007)
This document outlines the cash compensation policy for non-employee directors of Axcelis Technologies, Inc. as of March 1, 2007. Non-employee directors receive annual retainers, additional retainers for committee chairs, and meeting fees for attending board and committee meetings. Compensation varies by role, with the Lead Director and committee chairs receiving higher retainers. Directors are also reimbursed for out-of-pocket expenses related to meeting attendance. No other company-paid perks are provided under this policy.
Exhibit 10.11
Axcelis Technologies, Inc.
Non-Employee Director Cash Compensation at March 1, 2007
This Exhibit discloses the current understandings with respect to cash compensation between Axcelis Technologies, Inc. (the “Company”) and each of this non-employee directors. Axcelis provides both cash retainers and meeting fees to its non-employee directors, as follows:
| Annual Retainers (paid quarterly in advance) | ||||||
| Board Member Position |
|
|
| Amount |
| |
| Lead Director |
| $ | 50,000 |
| ||
| Non-Employee Board Member (not Lead Director) |
| $ | 30,000 |
| ||
| Audit Committee Chair* |
| $ | 15,000 |
| ||
| Compensation Committee Chair* |
| $ | 10,000 |
| ||
| Nominating Committee Chair* |
| $ | 7,500 |
| ||
* Retainers for Committee Chairs are in addition to the retainer payable to all non-employee Board members.
| Meeting Fees (payable quarterly in arrears) | ||||||||
| Meeting Type |
|
|
| Amount Per Meeting |
| |||
| In Person Board Meetings |
|
| $ | 2,000 |
|
| ||
| Telephone Board Meetings |
|
| $ | 1,000 |
|
| ||
| In Person or Telephone Committee Meetings** |
|
| $ | 1,000 |
|
| ||
** Committee meeting fees are paid only to committee members, and not to other Board members, attending committee meetings.
Non-employee directors also receive reimbursement of out-of-pocket expenses incurred in attending Board and committee meetings. Non-employee directors do not receive any Company-paid perquisites.
