Summary of Non-Employee Director Compensation for Board and Committee Service

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the compensation structure for non-employee directors of the company. Directors receive an annual retainer of $40,000, meeting fees for board and committee participation, additional retainers for committee chairs, and annual equity awards in the form of stock options and restricted stock units. New directors receive an initial equity award upon election. The compensation plan specifies the amounts for each type of payment and distinguishes between audit and other committee service.

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EX-10.83 2 dex1083.htm SUMMARY OF NON-EMPLOYEE DIRECTOR COMPENSATION Summary of Non-Employee Director Compensation

Exhibit 10.83

 

Non-Employee Director Compensation

 

Element of Compensation        

    Dollar Value        

Annual Board Retainer:

    $40,000

Board Meeting Fee:

    $2,000

Committee Meeting Fee (other than Audit Committee):

    $1,500

Audit Committee Meeting Fee:

    $2,500

Committee Chair Retainer (other than Audit Committee):

    $5,000

Audit Committee Chair Retainer:

    $10,000

Annual Equity Award:

    $85,000
(in equal dollar amounts of stock options and
restricted stock units)

Initial Election to the Board Equity Award:

    $60,000
(in stock options)