Cadence Non-Employee Director Cash Compensation Summary
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Summary
This document outlines the cash compensation for non-employee directors of Cadence. Each non-employee director receives an annual retainer of $80,000, with an additional $80,000 for the Chairman of the Board if they are a non-employee. Committee chairpersons receive extra annual fees: $40,000 for Audit, Venture, or Technology Committees, and $20,000 for Compensation or Corporate Governance and Nominating Committees, unless they are also the Board Chairman. Directors are paid per meeting attended and reimbursed for related expenses. No compensation is given for actions taken by unanimous written consent.
EX-10.2 3 f11997exv10w2.htm EXHIBIT 10.2 exv10w2
EXHIBIT 10.2
SUMMARY OF NON-EMPLOYEE DIRECTOR CASH COMPENSATION
Each non-employee director receives an annual retainer of $80,000, and the Chairman of the Board, if a non-employee director, receives an additional annual retainer of $80,000. In addition to the annual retainer, non-employee directors who serve as the Chairman of the Audit Committee, the Venture Committee or the Technology Committee receive an annual fee of $40,000, and non-employee directors who serve as the Chairman of the Compensation Committee or the Corporate Governance and Nominating Committee receive an annual fee of $20,000; provided, however, that no committee chair fee is paid to a non-employee director who also serves as Chairman of the Board. Non-employee directors are also paid $2,000 for each Board or committee meeting attended in person and $1,000 for each Board or committee meeting attended by telephone or other electronic means. No additional compensation is paid when the Board of Directors or a committee acts by unanimous written consent in lieu of a meeting. Non-employee directors are eligible for reimbursement of their expenses incurred in connection with attendance at Board meetings in accordance with Cadence policy.
