Director Compensation Arrangements for Non-Employee Directors
This agreement outlines the compensation for non-employee directors of the corporation. Directors will receive an annual cash fee of $20,000, paid quarterly, and stock options valued at $25,000, granted after the annual stockholders meeting and vesting quarterly over one year. Additionally, directors will be reimbursed for expenses related to attending board and committee meetings.
EXHIBIT 10.14
Director Compensation Arrangements
Annual compensation to consist of cash fees of $20,000 to be paid in quarterly increments, and a grant of stock options with a value of $25,000 at the grant date, which shall be the fifth business day following the Corporation’s annual stockholders meeting, with all such awards to vest in full in equity quarterly increments over a period of one year from the grant date.
In addition, all non-employee directors shall be reimbursed for their expenses incurred in connection with attending Board and Committee meetings.
