Axcelis Technologies, Inc. Non-Employee Director Cash Compensation Policy (March 11, 2015)
Axcelis Technologies, Inc. sets out its cash compensation policy for non-employee directors. Non-employee directors receive annual retainers, with higher amounts for the Lead Director and additional retainers for committee chairs. Directors are also paid fees for attending board and committee meetings, with different rates for in-person and telephone participation. Committee meeting fees are only paid to committee members. Directors are reimbursed for out-of-pocket expenses related to meetings, but do not receive other company-paid perks.
Exhibit 10.13
Axcelis Technologies, Inc.
Non-Employee Director Cash Compensation at March 11, 2015
This Exhibit discloses the current understandings with respect to cash compensation between Axcelis Technologies, Inc. (the “Company”) and each of its 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.
To the extent that other committees are formed by the Board, similar retainers may be approved for the committee chairmen.
Meeting Fees (payable quarterly in arrears)
| Meeting Type |
| Amount |
| |
| 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
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