Cubist Pharmaceuticals, Inc. Director Compensation Policy Effective December 18, 2007

Contract Categories: Human Resources › Compensation Agreements
Summary

This agreement outlines the compensation structure for directors of Cubist Pharmaceuticals, Inc. as of December 18, 2007. It specifies annual retainers for the Chairman, Lead Director, and Board Members, with payment options in cash or stock. Directors also receive initial and annual stock option grants, and additional fees for attending board and committee meetings, with extra compensation for chairing meetings. The agreement details vesting schedules for stock options and pro-rated payments based on service duration.

Read More Arrow
EX-10.50 15 a2190806zex-10_50.htm EXHIBIT 10.50

EXHIBIT 10.50

 

Cubist Pharmaceuticals, Inc.

Director Compensation

Effective December 18, 2007

 

Director Compensation

 

Element

 

Compensation

Retainer

 

Chairman of the Board - $24,000
Lead Director - $18,000
Board Member - $12,000
Paid on an annual basis in June in either cash or stock; cash/stock election to be made at March board meeting; pro rated based on number of months served during the 12 months beginning on the prior calendar year’s Annual Meeting Date

Initial Option Grant

 

10,000 options; vests quarterly on a pro rata basis over 3 years from the grant date

Annual Option Grant

 

15,000 options granted on the Annual Meeting Date; vests 100% on the first anniversary of the grant date

Board Meetings

 

$3,000 per meeting (in person)
$1,000 per meeting (by phone)

Committee Meetings

 

$1,000 per meeting (in person or by phone)

Committee Chairmen

 

$2,000 additional per meeting led

Chairman of the Board

 

$1,000 additional per Board Meeting led, and 2 times options of outside director

Lead Director

 

$1,000 additional per Board Meeting led and 1.5 times options of outside director